UK Interest Rates Rise

No great surprise today with the news that UK interest rates have risen by a quarter point to 5.75%.

The Monetary Policy Committee issued a warning about concerns over the continuing rate of inflation, which some analysts believe may indicate that there will be a further interest rate rise in the near future. Indeed, some had already speculated that this month's decision could have led to a larger increase.

Businesses have reacted by warning against further increasesm suggesting that the 5 rises in the past year are still filtering through and will lead to a decrease in the rate of inflation anyway.