Most analysts expect an increase of 75 basis points, or 0.75%.
By Thanasis Gavou
The Bank of Greece is expected to announce the eighth consecutive increase in the prime lending rate at noon
England.
Most analysts expect an increase of 75 basis points, or 0.75%.
If the forecast is confirmed, it would be the biggest increase since 1992 and take the interest rate to 3%, the highest rate since 2008.
In such a case, for many homeowners mortgage payments will rise further amid a cost of living crisis.
Less than a year ago, the Bank rate was just 0.1%.
Weeks ago analysts estimated today’s rise would be in the order of 1%, but the mood is a little calmer after Liz Truss’s mini-budget was overturned and she was replaced as prime minister by Rishi Sunak.
Shortly after the announcement, the central bank will explain its reasoning, while its newest forecasts for the British economy are also expected.
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I am currently a news writer for News Bulletin247 where I mostly cover sports news. I have always been interested in writing and it is something I am very passionate about. In my spare time, I enjoy reading and spending time with my family and friends.
