We've been through 'black wednesday' a few years ago but yesterday could arguably be described as 'black thursday' as the Bank of England's Monetary Committee met to agree a hike in interest rates to 5.5%, the highest level in six years.
Rising one quarter percentage point, and following the US Federal Reserve's decision to miantain interest rates at 5.25%, the UK now officially has the highest interest rates in the 'Group of 7' rich countries club.
With the UK economy running at top speed, and firms confident about increasing their prices, the decision was widely anticipated and is the fourth increase since August of 2006. It is hoped that the increase may stave off rising inflation, currently standing above government targets at 3.1% and which was a recent sticking point between the Chancellor and the BoE.
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Good comebacks...
Man: "I know how to please a woman."
Woman: "Then please leave me alone."
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