Bank of England announces biggest interest rate rise in more than 30 years
Bank of England announces biggest interest rate rise in more than 30 years
It is the biggest single rise since 1989 (Picture: usnewsrank.com)
Homeowners face crippling mortgage costs after the Bank of England unveiled the biggest interest rate rise in more than 30 years.
The Bank’s base rate will rise to 3% from 2.25%, its highest the 2008 financial crisis, and decision makers warned further hikes are likely to rein in runaway inflation.
It will help pile around £3,000…