The Latest Breaking News from Bank of England

The hike in base rate means higher payments for homeowners and people with loans, but greater payouts for savers - though savings rates are still nowhere near beating super-high rates of inflation

Thousands of borrowers on tracker mortgages will feel the immediate impact of the Bank of England base rate rise.

Four rate setters wanted even higher rise in borrowing costs

Move marks the first back-to-back increase since June 2004

Here’s what today’s interest rate hike by the Bank of England means for homeowners.

Financial markets are now pricing in four rises in 2022

The interest rate has risen from 0.25% to 0.5%, it's highest level in more than two years, and the Bank of England decision means households will be paying more in mortgage and loan repayments

Rise aims to combat soaring inflation despite faltering economic recovery and deepening cost of living crisis

So, what’s your take on the news that interest rates are going up? — ex-Bank of England man Andy Haldane has pretty well said as much. Is this all you can talk about? Or is it just one of those things, way less interesting than the gas bill?