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

The Bank of England has held its base rate at 5.25% after 14 consecutive hikes.Submit your questions for live Q&A at 1.30pm

Experts had previously anticipated another 0.25 percentage points rise - but the ease in inflation yesterday means there is a 50/50 chance that the rate rises or is held. This is all about inflation - the rate at which prices are rising. Referring to criticism of the Bank for taking too long to act on rising inflation, he added:"Given that the Bank was possibly a little bit too accommodating for too long, they will probably err on the side of caution at this stage."Mr Dhar also said he sees a recession on the horizon for both the UK and the Eurozone.

Tracker rates mortgages change in line with another rate - usually the Bank of England's base rate, plus a few percent.A fixed rate mortgage doesn't change when interest rates do, but for those coming to the end of their term, they may struggle to get a deal at the same or a lower rate.Several protesters have gathered outside the Bank of England in the City ahead of the crucial announcement on interest rates.

"They will be looking at other things as well such as wage rises, which are still quite high. That will be a reason to hike. They will be looking at levels of activity in the economy which are cooling down - again, a reason not to hike.""There's been so much coverage of the fact that the rate of inflation came down yesterday, but we can forget that it is still at three times the BoE target.

"That is a real indicator of domestically generated inflation rather than some of the externally generated inflation that we got in the aftermath of Russia's invasion of Ukraine." "They don't like to see wage inflation rising at that sort of level, it feeds through to other measures of inflation over time.Interest rate rise could be 'breaking point' for homeowners on variable rate mortgages

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Cost of living latest: Interest rate decision imminent; protest outside Bank of EnglandThe Bank of England is announcing the latest interest rate at midday, but the decision is said to be on a knife edge. Got a question about interest rates and what they mean for you? Submit it in our form below - our experts will be answering a selection in a Q&A live on Sky News at 1.30pm.
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