The Bank of England unexpectedly pushed up the interest rate by half a percentage point to the highest level in almost 15 years, with policymakers and the UK Government coming under mounting pressure to control the cost-of-living crisis.The move is set to deepen the mortgage crisis as borrowing costs are hiked up for the 13th time in a row.Reactions from Labour leader Sir Keir Starmer and Prime Minister Rishi Sunak.

The Bank of England unexpectedly pushed up the interest rate by half a percentage point to the highest level in almost 15 years, with policymakers and the UK Government coming under mounting pressure to control the cost-of-living crisis.The move is set to deepen the mortgage crisis as borrowing costs are hiked up for the 13th time in a row.Reactions from Labour leader Sir Keir Starmer and Prime Minister Rishi Sunak.