The UK has “no alternative” but to raise interest rates in an effort to bring down inflation, Chancellor Jeremy Hunt has warned.
Households are braced for a further increase in rates - which already sit at a 14-year-high of 4.5% - from the Bank of England next week.
Hunt said the UK Government will be “unstinting” in supporting the central bank in its efforts to grapple rampant inflation and attempt to bring it back towards a target of 2%.
