"Consecutive base rate rises have been painful; it’s time to let them take effect"

Mark Harris, CEO at SPF Private Clients:

“Finally, inflation is not only moving in the right direction but has picked up some pace.

“It seems as though all eyes are on the latest inflation figures to determine what happens next and whether recent market volatility has settled.

“There is a strong argument for the BoE to pause interest rate rises for now, giving the market time to settle down and adjust.

“Consecutive base rate rises have been painful; it’s time to let them take effect, rather than causing continued anxiety and distress for borrowers."