The first interest rate rise in over a decade will be a novelty for households and businesses, but it is likely to take some time before many borrowers notice the difference.
Changes in borrowing patterns mean that many consumers and companies will be less immediately exposed to higher rates than they were in the past.
By increasing its benchmark rate on Thursday by a quarter of a percentage point to 0.5 per cent, the Bank of England’s objective is to suppress inflation, which is running above its 2 per cent target.
您已阅读39%（519字），剩余61%（799字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。