Interest rates up again - to the highest since October 2008

By Susie Watkins

11th May 2023 | Local News

NatWest Frome closes today May 11
NatWest Frome closes today May 11

The Bank of England has raised interest rates to 4.5%

The rate went up from 4.25% - the 12th rate rise in a row since December 2021 - with the bankers trying to control inflation, which currently is at 10.1%.

Inflation is at its highest rate for 14 years, in part owing to food prices increasing at their fastest rates for 45 years.

     

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