'Few will escape the cost of living squeeze': investment industry reacts to rising rates

Following the announcement from regulator Ofgem that the energy price cap will rise by 54% in April, Chancellor Rishi Sunak outlined financial support for households and The Bank of England raised interest rates from 0.25% to 0.5%. "Rate rises will up the pressure on households in the short term through higher borrowing costs, even if it helps bring inflation under control further out," said Ed Monk, associate director, Fidelity International. "The 54% energy price cap increase announced today means there's more pain to come - and that's inflation the Bank, and households, can do little ...