Uk Interest Rates - How High Could They Go? - See the BBC Calculator For Monthly Payments

3rd November 2022

The BBC has a useful calculator to compare your present interest rate with any new rate to be announced later today.

Interest rates are predicted to rise sharply on Thursday as the Bank of England continues to use its powers to tackle soaring prices.

The Bank is expected to increase its benchmark rate from 2.25% to 3%.

That would be its eighth consecutive increase since December, pushing the rate to its highest level for 14 years.

It would also mark the biggest single increase since 1989, and could have a big impact on the cost of living and people's finances.

Go to the BBC Calculator HERE