Cost of living latest: Interest rate decision imminent; protest outside Bank of England

We'll be finding out shortly what the Bank of England's decision is on interest rates - we'll be finding out at 12pm.A rise in interest rates will add to the mortgage pain already being felt by first-time buyers and millions looking to remortgage in the coming months.

Donning masks of Rishi Sunak and BoE governor Andrew Bailey, as well as the UK's big banks, the group hold placards stating"Tax The Banks". Sweden's Riksbank raised the country's interest rate by a quarter of a percentage point, to 4%, saying that inflation is"still too high".Norway's central bank raised its interest rate by a quarter of a percentage point to 4.25% and warned it could be raised again in December.However, the decision came with a caveat from chairman Thomas Jordan, who said the central bank would not hesitate to raise interest rates to keep inflation in check.

Despite this, King points out that the headline inflation rate is still more than three times the Bank's target rate of 2%. Borrowers across the UK are waiting tentatively to hear if the Bank of England will be raising interest rates at midday. Ms Hassan said a key factor pushing people to default on their mortgage is a"lack of awareness" about the options available to them to ease their financial burden, such as a repayment plan.

Ahead of this week, I'd have told you that a 15th consecutive interest rate hike by the Bank of England was nailed on. Guaranteed. But yesterday's inflation data prompted a big change in financial market expectations for a rate hike. The odds were almost 50:50 this morning. It's a fine balancing act and the committee can only hope that the cards fall in its favour in time, stick or twist, at midday.The pound fell slightly this morning ahead of today's crunch interest rate decision.

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