Rishi Sunak is urging Brits to stay strong and trust the Bank of England's decision to raise interest rates, despite the pressure it puts on mortgage holders. Stick to the plan and we'll get through this.
rnative to stamping out inflation. The Prime Minister defended the Bank of England’s decision to raise interest rates to a 15-year high of 5% last week. This puts mortgage holders under a lot of pressure.he said, “The Bank of England is doing the right thing. The Bank of England has my total support. Inflation is the enemy for all the reasons that we have talked about. Inflation is what makes people poorer. There is no alternative to stamping out inflation.
In the last few weeks banks and building societies have been holding off or withdrawing mortgage deals as they were waiting for the announcement of the higher interest rates.
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