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The Independent UK

National

Kate Devlin

Mortgage misery as Bank of England hikes interest rates to a 14-year high

Interest Rates England Andrew Bailey Inflation

Getty/iStock

Millions of homeowners and thousands of businesses face more pain after the Bank of England raised interest rates to a 14-year high on Thursday.

The eleventh consecutive increase comes as the bank struggles to bring stubbornly high inflation under control. The consumer prices index jumped last month to 10.4 per cent from 10.1 per cent in January.

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