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Bank of England increases base rate to 1% - what the rise means for your mortgage and savings

MSE_Emily Posts: 196 MSE Staff

5 May 2022 at 12:06PM in Mortgages & endowments

The Bank of England has increased base rates to 1% from 0.75% after the Monetary Policy Committee (MPC) voted in favour of a rise. The base rate is used by the central bank to charge other banks and lenders when they borrow money – and influences what borrowers pay and savers earn....

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Bank of England increases base rate to 1% - what the rise means for your mortgage and savings

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Bank of England increases base rate to 1% - what the rise means for your mortgage and savings

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