Three more rate hikes on way, warn experts

CONSUMERS hit yesterday by a quarter % interest rate hike and a four-year inflation high are facing three more hikes by the end of the year, experts warned yesterday.

The European Central Bank’s decision to raise the interest rate to 2.75% represents a whopping 33% jump over the past year, from historic low rate of just 2%.

With inflation hitting 3.9%, brought on by a surge in gas (25%), heating oil (23%) and health insurance (12%), the opposition described yesterday’s figures a “doubly whammy” for consumers.