What is the Bank of England base rate and why does it matter to me?
This is the interest rate the Bank of England charges on money lent to financial institutions. The Bank of England base rate can go up or down and is announced by the Bank of England's Monetary Policy Committee eight times a year.
Banks and Building Societies use the base rate when calculating their interest rates for some products. This may result in an increase or decrease to your interest rate.
What has the Bank of England base rate changed to?
On the 2nd August the Bank of England voted to increase the Base rate from 0.50% to 0.75%.
Click one of the following links to get more information on how this affects you.