Economics
U.K.’s Fixed Mortgages Mean Faster BOE Rate Rises May Be Needed
- One in six U.K. households on long-term fixed mortgage deals
- JP Morgan says economy “less sensitive” to rate rises now
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The Bank of England may have to raise interest rates more aggressively than in the past to tackle inflation because the volume of households on long-term fixed mortgages has blunted policy, according to JPMorgan Asset Management.