Families Need £1800 Extra By 2015

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A topic from Work & Money: Global Financial Crisis

laresMon 17/01/11 12:52

"Interest rates on credit cards and loans are expected to increase by between 2 percentage and 3 percentage points in the coming four years meaning the average household will have to divert a significant chunk of their disposable income to paying their debt, accountants PricewaterhouseCoopers (PWC) said yesterday.

The report comes just a few days after many economists predicted that the Bank of England would be forced to start increasing interest rates in the first half of this year, much earlier than originally expected.

Their warnings came after surprisingly high so-called factory gate inflation figures – the prices that manufacturers pay for their raw materials shot up because of the rising oil and commodity prices."

http://1sq.me/gPxkFs

This sort of panic reporting really annoys me. As a broadsheet, they really shouldn't be engaging in this sort crap journalism. Interest rates are at an historic low, it's not surprising they'll eventually go up!

philc777Mon 17/01/11 13:15

Well if they pay off their credit cards, they won't need anything....

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