The Bank of England’s announcing what happens to interest rates

Eight times a year (honestly guys, do you understand how dull it gets for us to have to write this story eight times a year...), the Bank of England makes an announcement on whether or not it will raise interest rates. Today's one of those days.

What it means: The interest rate What's this? is basically the 'cost of borrowing' – how much money a bank charges you for taking out a loan. If the Bank wants people to borrow (and spend) more, it'll keep rates low, while if it thinks people should be putting a bit more money away, it'll push them up.

The interest rate is 0.5% at the moment, which is pretty low but still higher than it was a few months ago (they raised it from 0.25% in November).

Since Jan, there hasn't been as much activity in terms of goods and services produced and sold in the UK (described as 'economic growth'). Some say it's the Beast from the East that put a real downer on businesses, others say it's general uncertainty (*cough* Brexit *cough*).

We'll find out later today how the Bank of England feels about it all, but rumour has it the rate will probably stay as is.