Bank of England warns higher rates hit lower incomes hardest
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Higher interest rates hit younger and lower income workers hardest, warns Bank of England policymaker Swati Dhingra
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Rate rises lead to higher mortgage repayments but also higher savings rates
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UK economy likely flat or could enter recession soon due to rate hikes, says Dhingra
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Weaker growth from rates may increase inequality as lower income groups tend to be impacted more
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Bank didn't raise rates lightly but had to curb high inflation, though outlook is uncertain
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