Does it really affect us that much,banks already predicting rise in unemployment yet 2 month ago there was more jobs than unemployed is it just more scaremongering as usual.
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Well, someone with a £100.000 mortgage (which is low by current standards) will be paying over £100 per month more to service it compared to a few months ago, and there are almost certainly more rises to come, and that’s £100 they don’t have to spend on stuff which needs manufacturing, warehousing, transport etc so I’d say yes, we are certainly heading for recession.
Speaking personally the interest rates on savings look a lot better