Bank of England’s rate rise

reaction from Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organisations.

“Due to the Bank of England passively standing on the sidelines for far too long last year when prices were already starting to surge, they are now feeling the need to aggressively rate hikes.
“It’s too hard, too late.

“Now, just as the UK is nose-diving into a recession they are slamming on the brakes, which can be expected to make the downturn of Britain’s consumer-driven economy worse, and last for longer.

“The Bank of England’s hike is harmful to the economy and piles on the pain for people and businesses across the country.”