4.5%. risen by a quarter of a percent, that is from our economics editor, faisal islam, who has tweeted that. just getting that information in that, as expected, interest rates in the uk are now at 4.5%, up from 4.25%, a quarter rate rise. 0ur cost of living correspondent is watching these developments for us, kevin, news that will impact on so many people s lives for their mortgages and make life just that bit more difficult as they have seen those rate rises so many times, for the 13th time in a row? it many times, for the 13th time in a row? , ., . many times, for the 13th time in a row? ,., ,, many times, for the 13th time in a row? , ,,, row? it is not a surprise, but clearly the row? it is not a surprise, but clearly the impact row? it is not a surprise, but clearly the impact is - row? it is not a surprise, but clearly the impact is still - row? it is not a surprise, but| clearly the impact is still very real. it will make borrowing more expensive for many, many pe
feed into rising mortgages and business borrowing costs as we heard they are from nickel. part of the bank s attempt to rein in double digit rates of inflation, which stays persistent at over 10%. it was hopedin stays persistent at over 10%. it was hoped in march when the figures were last announced that it would have fallen below 10%. those falls are expected to occur more slowly as food prices continue to rise. the bank has upgraded the prospect for the uk economy. 0ur economics editor faisal islam was telling us that they are now no longer forecasting they are now no longer forecasting the economy will shrink, but will grow modestly over the next two years will stop as they were saying, this is from a pretty low base. we will have more on that very shortly, when we can go back to that press conference which should start in five minutes or so. let s go back to cheryl, who is talking about having
markets, but who knows what geopolitics russia and ukraine could throughout. we put this onto a giant mix, and my impression is that we have had this 12th rise. this is not a case of 12 and out. perhaps it goes further because inflation is not yet under control. there are fears it has become embedded, and there is fears in the uk context that it there is fears in the uk context thatitis there is fears in the uk context that it is a little stickier than it is elsewhere. the bank leaving their options open, leaving the weapon loaded for further rate rises in the future, at least one injune. loaded for further rate rises in the future, at least one in june. thank ou ve future, at least one in june. thank you very much- future, at least one in june. thank you very much. let s future, at least one in june. thank you very much. let s go future, at least one in june. thank you very much. let s go back - future, at least one in june. thank you very much. let s go back to i future, at lea
don t know what s going to happen to me, really. things will really have to change drastically, somehow. i know they have this new mortgage you were talking about earlier, but i don t know that that would help me, because there is a higher rate on that, so i don t know if that would benefit me, that is something i ll have to look into. benefit me, that is something i ll have to look into. really appreciate ou have to look into. really appreciate you sharing have to look into. really appreciate you sharing your have to look into. really appreciate you sharing your story have to look into. really appreciate you sharing your story with - have to look into. really appreciate you sharing your story with us, i have to look into. really appreciate you sharing your story with us, we | you sharing your story with us, we wish you the of luck. let s go back to our business correspondence. cheryl s story will resonate with so many people who have been struggling, saving for years, they just