FTSE LIVE: Barclays hit by £2billion of costs; N-Power fined; Bank of England raises rates

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FTSE LIVE: Bank of England raises interest rates, Barclays profits hit by £2bn of costs and Npower’s been slapped with a fine

The Bank of England has increased interest rates from 0.5 per cent to 0.75 per cent. This is the highest interest rates have been since 2009. 

In other news, profits at banking giant Barclays have been dented by a near £2billion in legal settlements, and NPower has been fined for failing to meet a deadline for installing advanced meters.  

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