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The Independent UK
The Independent UK
National
Matt Mathers

What are interest rates and how do they affect inflation?

Interest Rates Inflation EPA Samaritans
EPA

The Bank of England is expected to raise interest rates for the tenth consecutive time on Thursday as it continues trying to tame sky-high inflation.

Policymakers at the UK central bank were expected to raise rates by a further 0.5 per cent, bringing the base rate to 4 per cent - the highest level in over a decade.

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