Interest rates across the UK have soared today, with the Bank of England (BoE) confirming its biggest rise in almost 30 years.
The central bank has increased the base rate of interest 0.5 percentage points - from 1.25 per cent to 1.75 per cent - marking the sixth consecutive year that rates have risen. It also marks the largest sole increase in 27 years.
This leap also sees UK rates at their highest level since the end of 2008 - in which GB suffered the 'Great Recession', the longest lasting recession to ever hit the UK.
