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Daily Mirror
Daily Mirror
Business
Emma Munbodh & Benjamin Lynch

Bank of England tipped to raise interest rates to 1% today - how it would affect you

The Bank of England is expected to raise interest rates to a 13-year high today in a bid to control inflation.

Rates are expected to go up again from 0.75% to 1%, which is the highest level since 2009 as people in the UK face a crippling cost of living crisis.

Fears of a UK recession are also now increasing, as the economy only expanded by 0.1% in February this year, on top of the biggest fall of living standards since the 1950s.

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