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UK interest rate rise: what the Bank of England's historic hike means for your money

By Jonquil Lowe, Senior Lecturer in Economics and Personal Finance, The Open University
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The Bank of England has raised its base rate by 0.5 percentage points, the largest single upward jump in 27 years. It takes the base rate to 1.75%, its highest level since 2008. This latest interest rate hike will affect personal finances and reflects the Bank’s efforts to control rampant inflation amid the cost…The Conversation


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