BBC: UK interest rates have risen further as the Bank of England attempts to stem the pace of soaring prices.
Rates have increased from 1% to 1.25%, the fifth consecutive rise, pushing them to the highest level in 13 years.
It comes as finances are being squeezed by the rising cost of living, driven by record fuel and energy prices.
Inflation - the rate at which prices rise - is currently at a 40-year high of 9%, and the Bank warned it could surpass 11% later this year.
The Bank said rising energy prices were expected to drive living costs even higher in October, but added it would "act forcefully" if necessary should inflation pressures persist. » | Dearbail Jordan, Business reporter, BBC News | Thursday, June 16, 2022
