Bank of England lifts base rate to 4% in first hike in three years

The Bank of England has raised its base rate from 3.75% to 4%, marking the first increase in over three years. Eight members of the monetary policy committee backed the move, while one member, Catherine Mann, argued for a larger half-point jump. The Bank's governor also signalled another rise could come soon.

How are you adjusting your budget in response to rising interest rates?

📢 Follow DFace on Min: https://minchatapp.com/c/dface

#bankofengland #interestrates #costofliving #ukeconomy