MONEY TIP OF THE DAY

The Bank of England will make its next interest rates announcement on December 15.

The base rate is currently at 3% – just one year ago it was at 0.1%. Whether interest rates go up again depends on what happens to inflation, the economy and more.

City analysts think the rate will peak at 4.75% but the Bank of England says it doesn’t expect it to go this high. Some experts think it will peak at 4% early next year.