Bank of England Interest Rate

Bank of England increases interest rates by 0.25% to 4.25%

The recent inflation increase heaped on even more misery and pressure for the public as interest rates climb yet again in an effort to curb inflation

Interest rate up

As UK inflationary pressure increased again, as demonstrated recently by the unexpected move up from 10.1% to 10.4% – the Bank of England has pushed interest rates up again to their highest level for 14 years, since the financial crisis of 2008.

The interest rates are increased in an effort to curb rising inflation, pouring more misery on an already financially stretched UK public.

All this in the name of inflation – the bank of England’s one remit to control and maintain at 2%.

The bank base rate is now 4.25%

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