Cost of living: families face biggest fall in disposable income for three decades, Bank of England warns – business live | Business

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“Unfortunately, we’ve got a squeeze from energy prices, and you see the Ofgem announcement this morning, and in order to counter the threat, and the risk that we see of further pressure coming from the labour market, I’m afraid we do have to raise bank rates.

“This is a lot of pressure on households, and we have to be very clear, a lot of pressure on those households who are less able to afford it.”

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