The Bank of England (BoE) is set to announce the results of its latest Base Rate review today.
It means there could be significant changes in rates all across the country, potentially affecting how much money people will pay back on loans, mortgages, and savings accounts. Currently, interest rates are at 4.25 per cent, the highest it's been since the 2008 financial crisis.
Over the past year, the BoE has been regularly increasing interest rates in an attempt to drive down inflation to meet its target of 2.5 per cent. However, there are fears among economists that interest rates could increase to 4.5 per cent.
