This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
However, the increase in rates, coming at a time when price increases have started to ease, has raised fears that officials will tip the economy into a painful contraction, bringing economic activity to an abrupt slowdown that leads to firms to cutting jobs.