London, UK.  4 August 2022.  The exterior of the Bank of England.  In an attempt to curb inflation, which is predicted to rise to 15% in 2023, the monetary policy committee (MPC) of the Bank of England has announced an increase in the base rate from 1.25% to 1.75%, the biggest rise in 27 years.  A rise is the interest rate will make borrowing more expensive and deter spending.  Credit: Stephen Chung / Alamy Live News Stock Photo