From the Guardian
Interest rates rise to five-year high

· Analysts warn of further increase in 2007
· Balls praises Bank move based on prices pressure

Larry Elliott and Rupert Jones
Friday November 10, 2006
The Guardian

[http://business.guardian.co.uk/story/0,,1944253,00.html|Britain's homeowners, credit card debtors and businesses] were last night feeling the impact of the second increase in interest rates in three months after the Bank of England took action to curb growing inflationary pressures.
In a move widely anticipated in the City, the Bank's monetary policy committee raised borrowing costs by a quarter-point to 5% - a level not seen since the immediate aftermath of the terrorist attacks on September 11 more than five years ago.