Pressure piling up on Bank of England to cut interest rates

THE Bank of England is expected to make another decision on interest rates this summer.

- DAVE PIKE

For working people here in the North East, and across the country, that decision cannot come soon enough. It’s time for the Bank to resume cutting rates and quickly.

Interest rates in the UK remain painfully high. While there have been some modest cuts since the peak last year, rates are still far higher than in Europe or other comparable economies. Inflation is falling, but the cost-of-living crisis continues to bite. High prices, rising bills and expensive borrowing are a daily reality for households and businesses alike.