David Smith: Interest rates are painful but people are less indebted than in the past
We are, as everybody knows, in a period of higher interest rates. As of last Thursday, the Bank of England rate, now 4 per cent, is the highest for more than 14
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### Instruction: David Smith: Interest rates are painful but people are less indebted than in the past

### Response: We are, as everybody knows, in a period of higher interest rates. As of last Thursday, the Bank of England rate, now 4 per cent, is the highest for more than 14