This Is Money: How high will interest rates go — and why are they still going up?

And there it was, another interest rate hike. Another quarter point move up seems almost commonplace now, but cast your mind back to the era after the financial crisis and we had to wait nearly ten years for the base rate to climb above its 0.5% 'emergency level'. It cut first and then base rate got all the way to the heady heights of 0.75%, before it was cut again when Covid hit. Yet, less than 18 months since the Bank of England started raising rates in December 2021, base rate has rocketed from 0.1% to 4.5%. The rate itself is still relatively low in historic terms, but the magnitude of the rise is not. So, are the Bank's ratesetters right to keep voting for hikes, has the full pain been felt yet, and why would you do this when all the forecasts suggest inflation is soon to nosedive? Georgie Frost, Tanya Jefferies and Simon Lambert discuss the latest rate rise and how high interest rates will go. Plus, is the return of the 100% mortgage absolute madness, a helping hand for trapped renters, or something in the middle of all that? Why people should claim pension credit or help their friends or relatives? And finally, not only will it lack the crisp one-liners of Succession, but an inheritance drama is not something you want to get into, so how can people avoid one?