3 Aug 2023

Bank of England raises interest rates for fourteenth time in a row

Economics Correspondent

Bank of England interest rates went up for the fourteenth time in a row today, to 5.25 per cent, meaning more pain for mortgage holders across the country.

But there was better news on prices, with the Bank forecasting today that – as pledged by the government – inflation would fall by half by the end of the year, to below 5 per cent.