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Your mortgage payments
If you have a variable rate mortgage, or your fixed rate deal is ending soon, higher interest rates from the Bank of England could mean your monthly repayments go up. This is because the cost of borrowing for banks increases, and they pass that on to customers. It's worth checking your current mortgage terms.
Stories that explain this
Bank of England holds interest rates despite rising inflation, doesn't follow the Fed's lead Bank of England expected to hold rates, not hike in September Pound hits highest level since August as traders bet on rate risesRelated explainers
Why 2% inflation? What is the Bank of England? Why the Bank of England acts The Bank's balancing act What are bond yields? Cost of living crisis Cost of your shopping Why didn't the Bank follow the Fed?The full catalogue
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