As we posted about several international major banks suddenly raising their interest rates a half a point to 5% today note the following economic impact in REAL percentages

Written by Michael E Dehn

Founder and CEO of Metro Pulse a continually running enterprise since May 1980.

June 23, 2023

Kate Bevan

@katebevan

·

Once again I am begging you to remember that if the base rate goes from 4.5% to 5%, that is *not* a rise of “half a per cent”. It is a rise of half a percentage point, and a rise of 11.11% in the interest rate.

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