The Bank of England has raised interest rates again in more tough news for borrowers.
The base rate has gone up from 4.25% to 4.5%. This is the twelfth time in a row that the bank has raised rates - keeping them at their highest level since 2008.
The Bank of England has been raising rates since December 2021 in a bid to lower inflation. The rate of inflation is the change in prices for goods and services over time.
