Bank of England turns gloomier as base rate rises to 1.75%; how will the housing market respond, asks Tom Bill
Economists question the Bank’s latest forecasts while the direction of travel for mortgage costs is less open to debate, writes Knight Frank's head of UK residential research.
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‘There doesn’t need to be a recession to dampen the mood in the UK housing market’ – Knight Frank
Knight Frank's research team assesses what the Bank of England's slashed forecasts mean for the property market.
Bank of England bumps interest rates up 0.5% to 1.75%; warns of a recession by the end of the year
Today's rate rise is the biggest increase in 27 years, and comes as the BoE warns that the UK will be in a long recession by the end of this year.
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