The Bank of England is expected to raise interest rates for the thirteenth consecutive time on Thursday 22nd June as it continues to try and tame sky-high inflation.
At 8.7 per cent, inflation – or rising prices – is still far off the Bank’s target of 2 per cent. However, this rate is slightly lower than what it was when interest rates reached a high of 11.1 per cent last year, by 2.4 per cent.
