Ten Things You Need to Know Today: 22 September 2022

The Week’s daily digest of the news agenda, published at 8am

1. Bank expected to hike rates

Interest rates are expected to rise for a seventh time in a row today, inflicting misery on millions of homeowners. The Bank of England is widely expected to increase rates by half a percentage point, or possibly more. Officials at the Bank have been put in a “tricky position,” said the Daily Mail, because while ramping up the base rate could help to tame inflation, by encouraging saving rather than spending, it also “bumps up the cost of borrowing for all and puts a damper on economic growth”.

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