The leap to 3%, the highest interest rates have been since 2008, will mean bigger borrowing costs for businesses and mortgage holders. It’s the single largest hike since 1989, and will come as a blow to businesses that need to secure funds from banks. However, it provides a silver lining for savers that could alleviate the industry’s pain.
Interest rates: What does the hike mean for travel?
Government
Gary Noakes
3 November 2022
Travel businesses face another obstacle to their post-pandemic recovery following Thursday’s rise in interest rates (3 November).
(Credit: Pixabay / Pexels)
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