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UK Interest Rates Hit 1% The Highest Since 2009

The Bank of England has just announced that it's upping it's interest rates from 0.75% to 1%, the highest set since 2009.

This also marks the 4th time the bank of restraint has increased it's interest rates in the last 5 months.

There is already evidence that this will devastate those seeking mortgages or much needed loans as the cost of living crisis triggered by the Covid Pandemic and Russia's invasion of Ukraine in February continues to tighten it's noose around the necks of British wallets. 

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