Why the Bank of England is raising interest rates – & the risks involved

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Johan Rewilak, an empirical economist and lecturer at Aston University, explores the reasoning behind the Bank of England's anticipated decision to raise interest rates for the first time in a decade...

Written by

Johan Rewilak

Lecturer, Aston University at Aston University

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Main image: UK household debt to income ratio. ONS and Bank of England calculations

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"No surprise" from the prime resi sector as the Monetary Policy Committee votes 7-2 to increase the base rate from 0.25% to 0.5%
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Chancellor Sunak has promised to cut taxes, not raise them in the coming years. But the country's biggest house-builders will have profits taxed 4% to help pay for the cladding scandal.
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Political uncertainty, affordability constraints and policy changes have all taken a toll on demand in the UK housing market, warns the BoE in its latest inflation report; average house prices are now…