An interest rate rise may put thousands at risk of mental health problems

Citation

Boyce CJ (2018) An interest rate rise may put thousands at risk of mental health problems. The Conversation. 09.05.2018. https://theconversation.com/an-interest-rate-rise-may-put-thousands-at-risk-of-mental-health-problems-96300

Abstract
First paragraph: After nine years of interest rates below 1%, it seems imminent that the Bank of England will announce a rise before long. As pay growth picks up and inflation hits its 2% target, a rate rise would – it is argued – ward off potential risks of inflation in the medium term. But another factor to bear in mind is that a rate rise could also have serious repercussions for people’s mental health. A large portion of the UK population have high, possibly unsustainable, levels of debt and a higher interest rate is likely to increase the burden of repaying some of that debt. It will therefore likely increase their levels of mental distress.

• Boyce-Conversation-2018.pdf