Martin Lewis has said there is "very, very little hope" of interest rates falling in the near future - and that they could rise even further. The Money Saving Expert was speaking on Good Morning Britain where he appeared as a guest on Wednesday September 21 to take questions from viewers on the cost of living crisis.
During the segment Mr Lewis was read a question by host Susanna Reid from one viewer who said her interest-only mortgage has increased £200 a month and wanted to know whether interest rates might drop in the near future. In August the Bank of England raised interest rates to 1.75% from 1.25% – the highest level since January 2009 - in a bid to reduce demand with inflation set to hit 13.3% in October.
But Mr Lewis poured scorn on any suggestion that the UK could see interest rates fall soon, saying there was "very, very little hope" of that happening.
