Bank of England set to hike interest rates to 15-year high in bid to tackle inflation 🚨 Follow the latest with our live blog:
Latest Bank of England news as interest rates set to 15-year high in bid to tackle inflationJoe Duggan
The Bank of England is set to increase UK interest rates to a 15-year high as it bids to rein in rampant inflation. It is expected that the central bank’s Monetary Policy Committee will raise the base rate by 0.25 percentage points to 5.25 per cent, the highest it has been since March, 2008, prior to the financial crash.
Thursday’s expected increase is set to spell misery for many homeowners facing big increases in monthly bills due to mortgage rates moving higher.
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