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what the Bank of England's historic hike means for your money

  • Written by Jonquil Lowe, Senior Lecturer in Economics and Personal Finance, The Open University
what the Bank of England's historic hike means for your moneyHouseholds will feel the effect of rate rises as the Bank of England tries to slow inflation.New Africa / Shutterstock

The Bank of England has raised its base rate by 0.5 percentage points, the largest single upward jump in 27 years. It takes the base rate to 1.75%, its highest level since 2008. This latest interest rate hike will affect personal...

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