NEWS… BUT NOT AS YOU KNOW IT
For the 14th time in a row, the Bank of England has raised interest rates to nauseating highs, spelling more misery for mortgage holders.
The central bank’s rate-setting committee lifted rates to 5.25% from 5% today, the highest since March 2008.
Policy-makers will meet to decide how much, if at all, the rate needs to be changed on September 21.
It’s a move almost certain to worsen fears at how deep the cost-of-living crisis has become, with economists expecting rates to keep going up until early 2024.