BoE

Challenges PM's claims 'the economy has turned a corner'

Interest rates are at their highest since the Global Financial Crisis

UK to experience the highest interest rates since the GFC

Auction size to be confirmed each morning at 9am

The PM has spoken on several local BBC Radio stations this morning

Inflation peak of 13%

Up from 9.1% in May

Bank rate jumps to 1.25%

Increase by 0.25%

Expected to 'proceed with caution'