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Bank of England raises UK interest rates

Bank of England raises UK interest rates

The Bank of England has raised the interest rate for only the second time in a decade.The rate has risen by 0.25% to 0.75% - the highest level since March 2009.The move will increase the interest costs of more than three-and-a-half million residential mortgages that have variable or tracker rates.But it will be welcomed by savers, who could see a lift in their interest rates over the coming months.
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