Because wages are now rising ahead of inflation the Central Bank has today raised the
borrowing rate - effectively removing the benefit. Of course it’s dressed up differently but ask the guy in the street how he feels. Let’s see how long it takes the banks to raise savings rates - most have yet to act following last Decembers’ rate rise. Once again the system acts to ensure its control is as tight as ever. It will now cost employers more which could have an impact on recruitment. The time for change has never been greater.