Tony Smith Considers the Forthcoming Rate Rise

As I’ve said here and in other places before, it is my belief that rises in in the Bank Rate are inevitable (standing currently at 0.5%, how could they not be?) and that a return to the historic average (or at least 3-4%) might easily be anticipated by early next decade. The Feds raised their rates last thing in 2015 and the Bank of England are due to make an announcement, at the time of writing, next Tuesday. So the question I am asking myself this month is, ‘Are the forthcoming hikes in interest rates imminent for our customers?’ The primary goal of the Bank of England, set by the Treasury, is to maintain inflation at a level of around 2%. If inflation is below 2%, you might expect interest rates to be cut in order to fend off deflationary pressures; if on the other hand it is above 2%, you might expect an interest rate rise to fend off inflationary pressure. Basically the idea is that by making money more or less expensive you can turn money supply on and off like a tap in or
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