Bank of England raises interest rate to 4%

The Bank of England has raised UK interest rates by a further half percentage point to 4%, but gave its clearest signal yet that borrowing costs may now be nearing their peak.

This was the Bank's 10th successive interest rate increase, but in the accompanying documentation, it hinted that there is a chance it might be the last for the time being, saying that it would only raise rates further "if there were to be evidence of more persistent [inflationary] pressures" than in its forecasts.

Read more here: https://news.sky.com/story/bank-of-england-hikes-interest-rates-by-0-5-percentage-points-in-tenth-consecutive-rise-12801269

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