Rising Inflation Impact Bank Of England Hikes Interest Rates, Will RBI Also Hike Rates. Know Details

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Inflation Impact Rise in Interest Rates: Due to rising inflation, the process of increasing interest rates in different countries has started. Bank of England has decided to increase its benchmark rates from 0.10 percent to 0.25 percent.

In fact, the inflation rate in the UK has reached 5.1 percent in the month of November. Which is more than double the Bank of England’s own estimate. This decision has been taken to curb inflation.

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At the same time, after this move of the Bank of England, there is a danger of increasing the interest rate in India too. In fact, the figures of wholesale inflation for the month of November are more than 14 percent, the highest in three decades. Recently, the RBI had reviewed the monetary policy but despite the high inflation, no decision was taken to increase the interest rates. But it is believed that interest rates can be seen increasing in the new year.

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If interest rates increase, depositors who are troubled by cheap interest rates will benefit, but borrowers of bank loans may get hit by expensive EMIs because from home loan to car loan education loan can be expensive.

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