BoE bumps interest rates up again, to 3.5%

Today's rate rise is the biggest increase in 27 years, and comes as the BoE warns that the UK will be in a long recession by the end of this year.

The Bank of England expects interest rates to climb to around 2.5% by mid-2023.

"The rise has been a long time coming, and with inflation now at decade high levels, there really is little alternative," comments Strutt & Parker, while Knight Frank Finance says "it’s clear that the…