The Bank of England has increased it from 3.75% to 4% in view of the growing strength of the economy and to try to curb house price rises and consumer spending. House prices are still rising and shoppers are still spending even though the Bank's Monetary Policy Committee last raised the rate in November, to try to curb spending.

Source: Sky News
URL:http://www.sky.com/skynews/article/0,,30400-12985978,00.html

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