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Birmingham Post
Birmingham Post
Business
Hannah Baker

What UK interest rate rise means for mortgages and savings

Interest rates have gone up again for the third time in just a matter of months.

The Bank of England increased rates from 0.5% to 0.75% on Thursday (March 17) and predicted inflation - the increase in the price of goods and services - could reach a whopping 8% by June.

But what does this mean for borrowers and savers?

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