- The Bank of England (BOE) decided to deliver its #inflation medicine in a bigger dose
at their recent monetary policy committee meeting.
The bank made the shock decision to raise borrowing costs a half percentage point,
taking the official rate to 5% ;
double the size of the increase anticipated by most economists.
BoE hiking interest rates to 5% ,
it adds further strain to millions of homeowners across the country.
The Central Bank Rates was upped by 0.5% from 4.5% previously
and remains at it's Highest Level since 2008 Financial Crisis.