9 May 2023

Bank of England expected to raise interest rates to highest level in 15 years in bid to reduce inflation

Economics Correspondent

The Bank of England is expected to put up interest rates later this week to their highest level for 15 years in a bid to bring down inflation.

It’ll be the 12th increase in the cost of borrowing since the end of 2021 – although one building society has now started offering a deposit free mortgage to help renters get onto the housing ladder.