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Inflation is on the agenda again and again

Enable’s Independent Financial Advisors know you have to feel like you can afford to save before it easy to have a savings or investment plan in place. At the beginning of the month The Bank of England’s Monetary Policy Committee once again voted to keep the base rate at 0.5 per this was for the 63rd consecutive month of record-low rates. But with many families struggling with the cost of things going up while wages do not keep pace something might have to change.

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It would seem that according to a survey of 4,000 households that was conducted as part of the B of E’s latest quarterly report 58 per cent of households would actually prefer the central bank to keep inflation down through higher interest rates.  This is a significantly larger group that the just 14 per cent of households that preferred to keep interest rates low and accept higher inflation, despite 67 per cent of borrowers being on their lender’s standard variable rate.

The Bank is aiming to keep inflation at 2 per cent and says: “There is evidence of public support for the Bank’s objective of maintaining low and stable inflation remains strong.”

Back in February, there was much speculation but it seemed like rates would not be changed until spring next year – which would amount to six years of the central bank holding the benchmark rate to a record-low 0.5 per cent – although after Mark Carney’s more recent warning some commentators suggested rates could rise before the end of this year.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 – Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.

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