UK interest rates have been hiked to 3% as the Bank of England confirms its biggest single rate rise in more than 30 years.
The Bank of England is also now warning the country could face its longest recession on record, piling more misery onto struggling Brits.
The base rate has been increased by 0.75 percentage points - up from 2.25%. It marks the biggest single rate increase since 1989, and means interest rates remain at a 14-year high.
