A shock rise in inflation has prompted the Bank of England to raise borrowing costs for an 11th consecutive month.
Bank rate has been hiked by 0.25 percentage points to 4.25% – a decision that will add more costs to households with tracker and standard variable mortgages.
The quarter point rise follows last month’s larger increase of 0.5 percentage points.
A pause for breath had been widely tipped in advance of the Bank’s rate-setting meeting.
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