The Bank of England has announced the first interest rate move in a year, up 0.25% to 4.75%. The majority of forecasters expected no change, so the surprise affected the stock market, sending the FTSE 100 down 100 points in just a few minutes.

Banks try to predict where interest rates are going, and we can see their collective thoughts by looking at what are called LIBOR rates. At present, LIBOR rates show banks expect the Bank of England base rate to increase a little bit more to 5% within 12 months time, i.e. a quarter point higher than they are now.

But enough of that! What you want to know is how to beat the rate rise. All it takes is a little financial re-organisation...

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