we ve been expecting interest rates to rise. interest rates have been rising, and they re expected to go up again today. we ll get an announcement on that from the bank of england at midday. hannah s here with more. this will focus peoples minds today. yes, difficult news for people already yes, difficult news for people already struggling. yes, a lot of you might be wondering why the bank of england is putting up interest rates, when people are already feeling the cost of living pressures. well the answer to that is inflation currently at 9.9%. that means an item that cost £100 a year ago, would now cost £109.90. the bank of england has a target for inflation ofjust 2%, and the theory goes that by making it more expensive to borrow, raising interest rates takes money out of the economy and brings prices down. in august, the bank raised the base rate to 1.75%. that figure is used as a benchmark by high street banks and lenders when they decide what to charge us all for credit card
interest rates and the ecb has raised them and now the bank of england is meeting again today, and hannah, largely expected to follow suit. we ve already had one writes in the bank of england and this could be even bigger. interest rates have been historically low but they are on their historically low but they are on their way historically low but they are on their way back up and a lot of you might their way back up and a lot of you might be their way back up and a lot of you might be wondering why the bank of england might be wondering why the bank of england is might be wondering why the bank of england is putting up interest rates when england is putting up interest rates when people are already feeling the cost of when people are already feeling the cost of living pressure. well the answer to that is inflation currently at 9.9%. that means an item that cost £100 a year ago, would now cost £109.90. the bank of england has a target for inflation ofjust 2% and the t
Meralco 109, Phoenix 90 (Graphics courtesy of PBA Facebook) MANILA - Meralco clinched a twice-to-beat advantage in the Philippine Basketball Association (PBA) Governors' Cup quarterfinals on Friday after drubbing Phoenix, 109-90, in the penultimate game of the elimination round at the Smart Araneta Coliseum in Quezon City. The Bolts sizzled offensively in the odd-numbered quarters, but the turning point came in the third where it limited Phoenix to just 13 points to open an 88-68 lead entering the fourth. The Fuel Masters looked to pull a comeback after opening the final canto with an 8-0 run that cut the lead to 12, 88-76. But the Bolts responded with a 17-7 rally to increase the advantage to 22, 105-83, with 1:41 to go. "The win is really important because we lost our last three games, and of course when you're losing, your confidence takes a hit. So we really had to try to rebuild our confidence going into this game today knowing that we would have a twice-to-beat advan