Mortgage crisis to deepen as Bank hikes interest rates to 5
The Bank of England has pushed up interest rates to 5%, the highest rate in almost 15 years, as policymakers and the UK Government come under mounting pressure to control the cost-of-living crisis. The move is set to deepen the mortgage crisis as borrowing costs are hiked up for the 13th time in a row. The 0.5 percentage point increase was the sharpest increase since February, surprising economists who had