Rate Rise: Martin Lewis on what it means
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The Problem With Mortgage Rate Rises
Bank of England is deliberately squeezing people's incomes, says Martin Lewis. Less than 20% of the population are directly affected by mortgage rate rises. So they are having to be squeezed so tight, the pips are coming out. The demographic has been even more disproportionately hit by the energy crisis and food prices. But we're asking quite a lot of people to take the hit to try and fix inflation in the economy. It is a blunt tool. And it's an arbitrary tool.
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