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Daily Mirror
Daily Mirror
National
Tim Hanlon

Brits set for biggest interest rates hike in 27 years as inflation 'could hit 15%'

Inflation Interest Rates Bank of England MPC Resolution Foundation

Brits could see interest rates hiked to the highest level in nearly three decades on Thursday with warnings from experts that inflation could peak at 15%.

The Bank of England's Monetary Policy Committee (MPC) will increase interest rates from 1.25% to 1.75%, analysts believe, as they try to bring inflation back under control.

Previous Bank predictions forecast that Consumer Prices Index inflation would peak at around 11% this autumn, before falling back.

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