You are here:

Bank of England Raise Interest Rates

Published on



The Bank of England has just announced an interest rate rise of 0.5% - the ninth consecutive hike this year - and a real nightmare before Christmas for so many working families.

At Debt Free Advice, 51.1% of those seeking our help have rent arrears, this is up from 46.8% in 2021. We know more and more people are struggling to cover basic necessities like housing and this fresh interest rate high, not seen since the 2008 financial crisis, will only further increase costs.

We also know 38.6% of those contacting us already have credit card debts - with many more looking to put Christmas on credit in order to have a Christmas at all.

It's more important than ever to raise awareness of free advice services like Debt Free Advice on GB News.