The Bank of England has kept interest rates unchanged at 3.75% in its latest decision on Thursday. It came as the Bank indicated that elevated energy prices are likely to feed into UK inflation over the coming months. Here the Press Association looks at what drove the Bank's decision and what it means:– What happened to interest rates on Thursday? However, savings rates are also linked to the interest rate and are also likely to increase. Raising interest rates is the central bank's main way of reducing inflation – the measure of how fast prices increase over time.