UK interest rates expected to rise for 14th time in a row

Interest rates are expected to rise for the 14th time in row as the Bank of England continues its battle to control stubbornly high price rises.

Most economists have predicted the Bank will increase its base rate to 5.25% from its current 5% later on Thursday.

That would mean higher interest rates on mortgages and loans for some people, but also higher savings rates.

UK inflation, the rate at which prices rise, remains elevated and is putting households under pressure.

The last time interest rates stood at 5.25% was 15 years ago in April 2008. However, a rise to 5.25% would mark a smaller increase than July’s dramatic rise to 5% from 4.5% and follows signs that price rises have begun to ease.






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