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Daily Mirror
Daily Mirror
Business
Levi Winchester

Interest rates hiked to 4% in 15-year high - what it means for your money

Interest Rates Bank of England Inflation Moneyfacts

The Bank of England has hiked UK interest rates to 4% - its tenth rise in a row as it battles against inflation and soaring prices.

The base rate was increased from 3.5% and remains at its highest level since 2008.

But the Monetary Policy Committee (MPC) policymakers, who decide the bank rate, appeared to hint that borrowing costs may now be near their peak.

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