UK interest rates rise for first time in 10 years

For the first time in more than 10 years, the Bank of England has raised interest rates. The official bank rate has been lifted from 0.25% to 0.5%, the first increase since July 2007. It is likely to rise twice more over the next three years, according to Bank of England governor Mark Carney. The

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Interest rate cut welcomed but Housebuilders

The housebuilding industry has welcomed the Bank of England’s decision to cut UK interest rates from 0.5% to 0.25%, stating that the move would aid both housebuilders and home owners. Peter Andrew, deputy chairman of the Home Builders Federation, said: “Demand for new build homes remains strong and sales rates have been solid since the

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