On Thursday 2nd November 2017 the Bank of England announced the first interest rate increase in over a decade. Interest rates have a huge impact on the financial decisions of individuals, families, businesses and governments.

> What are interest rates?

> What are the varying types of interest rates?

> What and who are the Bank of England?

> Who are the MPC & what is their function?

> How does the rate hike impact us?

> What is price elasticity of demand?

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