The Bank of England has raised interest rates to their highest level in nearly 15 years. Money expert Martin Lewis explains what it means for people with mortgages, renters and savers. He says increasing interest rates to tackle inflation is designed to hurt.

Also, Education Secretary Gillian Keegan discusses what the high rate of inflation means for pay negotiations with teachers.

Today's Newscast was presented by Adam Fleming. It was made by Clare Williamson. The senior news editor was Jonathan Aspinwall.