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The National (Scotland)
The National (Scotland)
National
Gregor Young

Bank of England expected to raise interest rates again this week

Bank of England Interest Rates MPC
The Bank of England HQ, file photo.

THE Bank of England is expected to hike interest rates for the fifth time in a row this week but experts warn that any hesitation could push the price of petrol higher for squeezed drivers.

The Bank is widely predicted to increase its base rate from 1%, already the highest in 13 years, to 1.25%. It would be the first time since January 2009 that the rate has been higher than 1%.

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