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Daily Mirror
Daily Mirror
Business
Levi Winchester

Interest rates hiked to 4.25% in more misery for borrowers - what it means for your money

Interest Rates Bank of England Inflation Monetary Policy Moneyfacts

The Bank of England has hiked UK interest rates to 4.25% - putting more pressure on borrowers and homeowners.

The base rate has risen by 0.25 percentage points - up from 4% - and remains at its highest level since 2008.

It marks the eleventh rise in a row as the Bank battles to lower inflation, which went up in a surprise move yesterday.

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