Interest Rates Double To 0.5% To Cool Soaring Cost Of Living As Energy Bills Jump By £800

Money Tips Daily by Charles Kelly, former IFA and author of

Interest Rates Double To 0.5% To Cool Soaring Cost Of Living As Energy Bills Jump By £800 To An Average Of £2000 PA

The Bank of England have hiked base interest rates for the second time in months to curb inflation, with food inflation running at over 20%.

Press rises for basic utilities will inevitably suck money out of the wider economy driving the country into recession.

The ECB is widely expected to raise rates and the US Fed could follow. Stock markets around the world are still falling again today threatening a correction or crash. UK stock markets are down by half a percent and the Dow Jones and NASDAQ by over 2% today.

Life is going to get tougher this year for millions of people in Europe and America as the coming recession starts to bite. Prices are rising much faster than incomes as the “rich get richer and the poor get poorer”.

Now is the time to protect your assets and plan for your future. You could be in for a bumpy ride in the next few years.

Facebook’s growth faltered for the first time as user numbers fell. Shares plunged 20% wiping $200 billion of the value of parent company Meta.

PayPal value also plunges as it shuts down 4.5 million false accounts.

Property prices in the UK continue to increase year-on-year by an average of 11% as the market defies economic reality. Anyone owning assets, such as property, has become richer in the last few years.

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