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interest rates are expected to rise sharply today, as the bank of england attempts to tackle soaring prices. the bank is expected to increase its base rate by three quarters of a percentage point from 2.25% to 3%. that would be its eighth consecutive increase since december, pushing the rate to its highest level for m years. it would also mark the biggest single increase since 1989, and could have a big impact on the cost of living and people s finances. our correspondent navtej johal has this report. omar is a veterinary surgeon based in derby. he came to the uk four years ago and had planned to buy a home and settle here long term. with interest rates here expected to rise further today, which is likely to make mortgages more expensive, omar says he s now considering whether he should even stay in the uk. have you lost trust in the uk? i trust my colleagues, i trust my friends, i trust a lot of people in the uk. it shook my trust in the system. and you may move, you m ....
when it happens so quickly. as we head through the next few hours we ve got that rain in the south east clearing away, elsewhere some sunshine and also a rash of showers across parts of wales and the south west. those could well be thundery. for much of scotland and northern ireland some sunshine, a few showers and temperature is about average. this evening, you can see the circulation of showers across the circulation of showers across the south west, these will be heavy, perhaps thundery, and accompanied by brisk winds coming in from the north west affecting some coastal parts. through the early hours the rash of showers moving eastwards affecting south east england, thundery for some. you can see the ridge of high pressure building on and for some that means it s a quiet night, a dry night, a chilly night. through parts of scotland, even in the central belt towns and cities, down to freezing, if not lower, so for someone friday morning scraping the windscreen i imagi ....
interest rates have gone up by three quarters of a percentage point, the biggest increase for more than 30 years. it pushes the base rate up to 3%, as the bank of england tries to control inflation. it s the eighth rise in a row, meaning higher mortgage bills for many homeowners. meanwhile the bank has also warned the uk could be on course for its longest recession since reliable records began, over a century ago. our economics correspondent, andy verity, reports. it is the biggest interest rate rise in a third of a century. the cost of living has been rising at its fastest rate for a0 years for global reasons but the bank of england is trying to prevent runaway inflation from becoming embedded in the domestic economy. these are big changes, they have a real impact on people s lives, so why are we doing it? and why are we doing it now when so many people are already struggling with higher energy and food prices and other bills? quite simply we are increasing the bank ra ....
The cost of car insurance premiums has skyrocketed over the last year and drivers across the country are having to fork out hundreds more for their premiums since they last renewed ....