The Bank of England is widely expected to raise rates as it battles to slow soaring prices.
Interest rates are expected to rise for the 14th time in row as the Bank of England continues its battle to control stubbornly high price rises.
The last time interest rates stood at 5.25% was 15 years ago in April 2008. However, a rise to 5.25% would mark a smaller increase than July's dramatic rise to 5% from 4.5% and follows signs that price rises have begun to ease. But it is a balancing act as raising rates too aggressively could cause the economy to slump, but not raising them at all could lead to inflation rising even more.Free market think tank the Institute of Economic Affairs said the Bank should wait for previous interest rate rises to take effect before raising rates further.
"Many people with mortgages or loans will be understandably worried about what this means for them... but inflation is still too high and we've got to deal with it," he said at the Bank's previous interest rate decision.
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