The Latest Breaking News from Bank of England

Interest rates are already at their highest level in 13 years

Banks are raising rates to bring down inflation but there is a risk to economic growth

The Federal Reserve on Wednesday intensified its drive to tame high inflation by raising its key interest rate by three-quarters of a point — its largest hike in nearly three decades — and signaling more large rate increases to come that would raise the risk of another recession.

Mirror money experts Sam Barker and Graham Hiscott will be live on the Daily Mirror Facebook page from 1pm on Thursday to discuss how the latest Bank of England base rate decision affects you

Decision on Thursday at 12pm

The Federal Reserve is expected to announce its largest interest rate hike since 1994 — a bigger increase than it had previously signaled and a sign that the central bank is struggling to restrain stubbornly high inflation

Experts urge homeowners to make the vital changes as interest rates increase

Homeowners are soon facing the prospect of paying 3% for even the cheapest mortgage deals, but you may be able to beat rising rates by setting up a new deal six months early

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all