RATE RISE: Mark Carney, the Governor of the Bank of England
THE Bank of England has raised the interest rate for only the second time in a decade.
The rate has increased by 0.25 per cent to 0.75 per cent - its highest level since March 2009.
The rise is likely to be followed by higher mortgage repayments for three and a half million home owners on variable or tracker rates.
But savers are hoping it will see their interest rates go up in the coming months.
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