Another rise could mean pain for some homeowners, but good news for savers.
The theory is that raising interest rates makes it more expensive to borrow money, meaning people have less to spend, reducing demand and inflation.
The Bank has to balance the risk of damaging the economy, which has shown little sign of growth, with the need to slow price rises.
The so-called “mortgage bomb” has become a huge economic and political issue.
for more plz do some searches on youtube
effect of inflation vs effect of raise interest rate