Base rate, debt, pensions and university costs

The chances of another Bank of England rate cut today are close to zero after some recent upbeat economic data, although further action is expected later in the year, according to Thisismoney.

The Bank’s Monetary Policy Committee, which announces its latest interest rate decision at midday today, cut the base rate from 0.5 per cent to a new record low of 0.25 per cent in August to cushion the impact of Brexit on the UK economy.

However, recent surveys have suggested that the economy has held up well so far, with the services sector returning to growth in August after July’s contraction and the construction sector defying expectations of a drop in output.

Debt

Research carried out by Debt Advisory Centre has exposed how the growing numbers of people whose incomes vary month to month can struggle to pay essential bills and meet their debt repayments.

Eleven million Brits have a job where their income is variable.