Business
Three ways the interest rate rise could affect you
Job, loans and savings are all affected by the rise in interest rates announced by the Bank of England.
BBC Business•
Interest rates have been raised for the first time in more than three years - and it could be good and bad news for you.
Rate-setters at the Bank make changes to interest rates to fulfil their role of keeping price rises at a steady level.
Higher rates are meant to encourage people to spend less, reducing demand for goods and services and limiting price rises.
Leaving your savings in an old account (a product not offered to new customers), rather than shopping around, can mean you are penalised for your loyalty.