{"id":119616,"date":"2025-11-07T01:17:11","date_gmt":"2025-11-07T01:17:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/119616\/"},"modified":"2025-11-07T01:17:11","modified_gmt":"2025-11-07T01:17:11","slug":"bank-of-england-holds-interest-rates-at-4","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/119616\/","title":{"rendered":"Bank of England holds interest rates at 4%"},"content":{"rendered":"

Who is likely to be affected by today’s decision?published at 11:41 GMT 6 November<\/p>\n

11:41 GMT 6 November<\/p>\n

\"\"Michael Race
Business and economics reporter, at the Bank of England<\/p>\n

Depending on your individual circumstances, interest rates can impact you in different ways.<\/p>\n

Mortgage holders with variable or tracker mortgages, or those who are looking to secure new fixed-rate deals, will face a change in their monthly repayments if rates are altered.<\/p>\n

If rates are higher, it becomes harder generally for first-time buyers, as it becomes more expensive to borrow money for a mortgage.<\/p>\n

Higher rates tend to mean increased charges for unsecured loans and credit cards, but people with savings should benefit from higher interest rates and get better returns on their money.<\/p>\n

Lower rates, while making it cheaper to borrow, mean banks tend to offer lower returns on savings.<\/p>\n

Higher rates could also be good news for those on the cusp of retirement, who might get a better annuity rate.<\/p>\n

This determines how much guaranteed income you get, when you swap some or all of your pension pot for a secure income.<\/p>\n

For the government though, higher interest rates in recent times have meant it has had to pay more interest on the country’s debt<\/a>.<\/p>\n

The cost of government borrowing has been in the spotlight in recent months, with speculation that Chancellor Rachel Reeves could raise taxes in the Budget on 26 November.<\/p>\n","protected":false},"excerpt":{"rendered":"Who is likely to be affected by today’s decision?published at 11:41 GMT 6 November 11:41 GMT 6 November…\n","protected":false},"author":2,"featured_media":118623,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-119616","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/119616","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=119616"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/119616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/118623"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=119616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=119616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=119616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}