STRUGGLING were dealt households blow another yesterday as interest rates were hiked yet again.
The Bank of England raised the base rate from 3.5% to 4% in a bid to help bring down inflation.
Bank bosses said although the UK is still likely heading for a recession, it will be shorter and less severe than previously thought.
The slum is now predicted to last just over a year, instead of nearly two, as price rises slow.
Bank chief Andrew&nbsp;Bailey said "language on future rises" had softened. He added: "That reflects we have seen a turning of the corner, but it's early days and the risks are very large." Sam Richardson, of Which? Money, said a "sharp rise in repayments could push even more people over a financial cliff".
Chancellor Jeremy Hunt said he will resist extra spending or borrowing "which will only add fuel to the inflation fire and prolong the pain for everyone".
james.caven@dailystar.co.uk

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

n. We will also use usage information in order to ensure users adhere to our Terms of Use. For example, a user’s usage information will help us confirm that a user only downloads a magazine or other content a permitted number of times or to a permitted number of devices.

which gives digital readers unlimited access to 8,500+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 87 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.