What does interest rate rise mean for homeowners and savers?
First rate rise for more than three years leaves millions facing rise in mortgage payments
Bank of England raises interest rates to 4%
Business live – latest updates
The Bank of England has hiked interest rates by 0.25 percentage points, taking the base rate to 4%. It is the first rate rise for more than three years, leaving millions of households facing a sharp rise in mortgage payments.
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Source: The Guardian. Summary reproduced for informational purposes.
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