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Interest rates up again - to the highest since October 2008

By Susie Watkins 11th May 2023

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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