Economists are widely predicting the Bank will raise rates again today
Economists are widely predicting the Bank's Monetary Policy Committee will raise the base by 0.25 percentage points which would drive inflation up to 5.25 per cent. This would result in the highest interest rate levels in 15 years and would be the 14th consecutive increase from the Bank.
What time is the Bank's interest rate announcement for August? Join our WhatsApp Top Stories and Breaking News group by clicking this link What will happen to my money if interest rates go up? Interest rates will have a direct effect on those with a loan or a mortgage with a variable interest rate. If the interest rate goes up, you may notice that the cost of your repayment will go up as well.
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