The Governor of the Bank of England blamed Donald Trump's war with Iran for the first rise in interest rates in more than three years. They have gone up from 3.75 % to 4%.
The rise could have an impact on the cost of living and the economy - but could Trump's drubbing in the midterm elections mean that it's not inevitable that there will be more rises to come?
Niall talks to Sky's business correspondent Paul Kelso about how the rise will affect our finances and how resilient the UK economy is as the pound is at one of its highest levels since the Brexit referendum.
Have you got a question for Niall? Email us: why@sky.uk