UK economy: will latest interest rate hike actually curb inflation?

If mortgage payers, renters and businesses were feeling the squeeze before today, well now the pips are coming out. (Subscribe: ) Five per cent is the new interest base rate announced earlier by the Bank of England - the highest it’s been for fourteen years. That’s the pain. The gain? According to the bank - reduced inflation and the avoidance of a recession. ----------------------- Follow us: Facebook - Twitter - TikTok - @c4news Instagram -