Base Rate Increase

The Bank of England have raised the base rate of interest from 4% to 4.25% in a bid to tackle rising inflation.

In December 2021 the base rate stood at 0.1%, with 14 consecutive increases since, the base rate increases again to 4.25% today.

It will be interesting to see whether this will push up inflated mortgage rates even further for homeowners, and whether these increases will be passed on to savers.