The Bank of England is tipped to hike the base rate today - with a huge knock-on impact on mortgages, loans, savings and more.
This month's base rate decision will be a tougher one than ever - and whatever the Bank does, some British households lose out.
Base rate, also known as Bank rate or the interest rate, is a tool the Bank of England uses to help control the economy.
Every month Bank of England officials get together to decide if the rate should rise, fall or stay the same.
Mirror experts Sam Barker and Graham Hiscott will be discussing the Bank of England decision live on The Mirror's Facebook page at 1pm today, June 16.
Send us your questions in advance at mirror.money.saving@mirror.co.uk
Putting base rate up means the cost of living crisis eases, as soaring inflation will fall.
But this also means homeowners and loan customers pay more.
Leaving the base rate as it is, at 1%, means relief for mortgage customers and borrowers - but means inflation stays high.
However, base rate hikes are good news for savers, who will be able to get better returns on any spare cash.
In this week's Cost of Living: We're Here to Help Facebook Live, Mirror money reporter Sam Barker will be joined by Mirror head of business Graham Hiscott to talk you through what it all means for you.
Why do interest rates change?
The Bank of England sets the base rate in the United Kingdom every month.
Base rate is basically a financial 'lever' that the Bank can pull to help control the economy.
Rising base rate means it's more expensive to borrow, so consumers and businesses save instead - meaning spending drops and inflation does too.
Lowering base rate does the opposite, encouraging everyone to spend and not save, which means higher inflation.
The Bank can also vote to keep base rate as it is and not change it.
It's been doing this independently from the government since May 1997.
But it is still guided by the government, which sets it targets to achieve.
Mirror experts Sam Barker and Graham Hiscott will be discussing the Bank of England decision live on The Mirror's Facebook page at 1pm today, June 16.
Send us your questions in advance at mirror.money.saving@mirror.co.uk
