The Bank of England has raised UK interest rates from 5.5% to 5.75%, its fifth rate rise since last August.
Its Monetary Policy Committee (MPC) warned that inflation remains a danger, saying “most indicators of pricing pressure remain elevated”.
Some analysts have taken that to mean there may be a further rise this year.
The higher rates will add between £15 and £20 a month to an average £100,000 repayment mortgage, but may be good for savers who should earn higher interest.
Charities have expressed concern that higher mortgage costs will leave many borrowers facing difficulties.
From BBC & Balanced News Blog »
