BREAKING: The Bank of England raise interest rates to 4% from 3.5%, marking the biggest jump in more than 14 years.
Interest rates have been lifted yet again, making them the highest for more than 14 years.
Borrowing costs are rising to 4%, from the current rate of 3.5%, putting the fear of god into homeowners already struggling with their mortgages.voted to raise its base rate from 3% to 3.5% in DecemberBoth Swati Dhingra and Silvana Tenreyro voted for no change last month, and this time it was no different.This is the 10th time in a row that interests rates have gone up
Experts also believe interest rates could peak at 4.25% or even 4.5% next month, before finally coming back down.
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