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11.1.07 Shock as UK rates rise to 5.25%. The Bank of England has raised interest rates to 5.25% from 5% in the hope of reducing inflation. Many economists had been expecting an increase in the near future, although they expected the bank to wait until next month to raise the rate. The Consumer Price Index has recently risen to 2.7%, the highest level in more than ten years. This increase in interest rates will add £16 to the monthly payments of those with a £100,000 repayment mortgage.