The Bank of England (BoE) has voted in favour of raising the Base Rate once again.
In what is now the 11th consecutive increase in the country's interest rates, the Bank of England's Monetary Policy Committee has decided to raise the Base Rate from 4 per cent to 4.25 per cent. It means the UK's interest rate is now at its highest since the early stages of the 2008 financial crisis. when it topped 4.5 per cent.
According to the Bank, seven members of the Committee voted in favour of raising the Base Rate while two voted against, hoping to maintain the rate at 4 per cent.
