Interest rates are going up again - to 4.5% - the highest level they have been for 15 years.

(Subscribe: https://bit.ly/C4_News_Subscribe)

The Bank of England today said it was more optimistic about economic growth - it now believes there will be no recession this year.

But it also thinks inflation is going to stay higher for longer.

Rising rates mean that over a million people are about to see their mortgage payments shoot up as their fixed rate deals end this year.

-----------------------
Follow us:
Facebook -   / channel4news  
Twitter -   / channel4news  
TikTok -   / c4news  
Instagram -   / channel4news