BoE raises interest rates to 3%

The UK's base rate of interest has been rising since December 2021, as the Bank of England attempts to keep a lid on inflation.

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…