The Bank of England has raised interest rates for the third consecutive time.

The bank also wanted that the Ukraine conflict could see under-pressure households hit with double-digit inflation later this year.

Members of the Bank’s Monetary Policy Committee (MPC) voted eight to one to increase rates from 0.5% to 0.75%. The move takes rates back to where they were before the pandemic struck.

If you would like any advice about how rising interest rates may affect you or your business, please contact us by calling 0115 928 3228 or emailing info@coalesco.co.uk.