Base Rate Outlook for 2023/24. Is 4% the new normal?

The Bank of England set the base rate 0.5% higher at 4% today. Is this the new normal? Or will they go much higher?  I had a 5 minute chat with my old friend and pundit Alex Groundwater to get his views on what's likely to happen with bank interest rates and why.Alex Groundwater is a good friend from early school days, one of the rare ones I have kept in touch with.He describes himself as:"A Gen-X data enthusiast. Helping Bio-Techs build labs and manufacturing facilities for T Cell cancer therapies. mAB 🐀, reader, maths literate!"I often refer to him, not seriously, as my "quant guy" on YouTube videos.He wrote this short story about the income destruction of an imaginary wealthy middle class couple living in London to demonstrate the potential effects of the current inflation and interest rate we have in the economic environment in early 2023. You can find him here on Twitterhttps://twitter.com/alexgroundwaterAll my social links: https://linktr.ee/movinghomewithcharlieSupport the showFollow me on X for daily updates: https://x.com/moving_charlie 🎥 Charlie's Golden rules videos forBuyers: https://www.youtube.com/watch?v=h6T-uZ28a80 Sellers: https://www.youtube.com/watch?v=W9oR28aWLOs  Offering: https://www.youtube.com/watch?v=iZaDs7uZ5Hw 🎥 Playlist of FTB advice - https://www.youtube.com/playlist?list=PLKomt2RI3JYnJ3imNEWjKGkszf_bzqDfe📧 E-mail template for cash offers - https://mhwc.co.uk/email-templates/suggested-email-offer-template-for-cash-buyers/ 📧 E-mail template for FTB mortgaged offers - https://mhwc.co.uk/suggested-email-template-for-first-time-buyers-making-an-offer-with-a-mortgage/ 💰Speak to Charlie’s recommended mortgage brokers - https://mhwc.co.uk/mortgage/🧑‍⚖️ Get a quote from Charlie’s recommended conveyancers - https://mhwc.co.uk/conveyancing/ ...