Interest rates could be raised higher than initially expected to tackle inflation, it has been warned.
‘I can tell you that there was a very clear and immediate meeting of minds between us about the importance of fiscal sustainability and the importance of taking measures to do that.’
He continued: ‘It’s not appropriate for me to constrain the choices he makes but the very clear message I would give and it is a clear message for everybody, including a clear message for markets. ‘I can tell you there is a very clear and immediate meeting of minds on the importance of stability and sustainability.’
As winter approaches, and further fears on inflation and the cost of living crisis rise, further calls have been made for Government intervention.t more than five million households could see their annual mortgage payments riseIn total, mortgage payments are set to rise by £26 billion a year by the end of 2024, the Resolution Foundation has warned.
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