Britain faces longest recession in a CENTURY: BofE delivers grim forecast for the economy as it raises interest rates by 0.75% to 3% – the biggest increase in three decades – sending the cost of unfixed mortgages soaring by thousands

by Boo_Randy

Brits who levered up on debt to get up on that “housing ladder” – and bought into the most insane housing bubble in human history – are going to be experiencing severe rectal trauma. If you must squeal like pigs, f**ked borrowers, please squeal in time with all the other FBs.

www.dailymail.co.uk/news/article-11385623/Misery-struggling-homeowners-Bank-England-makes-biggest-rate-rise-30-YEARS.html

• The Bank of England hiked the interest rate by 0.75 percentage points to 3 per cent at lunchtime
• Potentially adds hundreds of pounds to unfixed monthly mortgage payments by homeowners
• Interest rates are now the highest they have been since the Global Financial Crisis in 2008 
• It’s the largest daily move since Black Wednesday in 1992 and the largest single increase since 1989
• Bank governor Andrew Bailey warned of a ‘tough road ahead’ for the UK economy in coming years.
• He told reporters today: ‘If we do not act forcefully now it will be worse later on.’