The Bank of England (BoE) will announce the results of its latest review of the Base Rate today - which will have a direct effect on the country's economy.
The rates introduced by the Bank will have a direct impact on other rates across the country. It can affect how much someone will pay back on loans, mortgages, or savings accounts.
Over the past year, the Bank has been steadily raising interest rates in order to drive down inflation. Currently, inflation stands at 10.5 per cent, however, the Bank wants this to drop all the way to 2.5 per cent.
