The Bank of England has faced criticism from some Tory MPs
(Picture: AFP via Getty Images)Millions of home owners faced a fresh warning on Friday that interest rates could be set to rise further, adding to the cost of living squeeze.
In a speech in Cardiff, the Bank of England’s chief economist Huw Pill said the decision by the bank to raise the base rate to one per cent at the start of May was part of a “transition process” to try and tame inflation which hit a 40-year high of nine per cent this week.
