"It feels as though another increase is necessary at this moment in time"

Marylen Edwards, head of BTL lending at MT Finance:

“Considering recent events in the global financial markets, this latest rate rise was not unexpected.

“While a reduction in base rate would have been welcome news, it feels as though another increase is necessary at this moment in time to combat stubbornly high inflation and help bring back some much-needed stability.

“Hopefully this will be the last rise before we start to see a plateau.”