The highest money market account rate available today is 5.00% Changes from the Fed or your bank can quickly change money market rates Online banks typically offer the most competitive yields on the market Current Money Market Rates As of today,

The Bank of England will raise interest rates days after John Healey's first Budget, economists have warned. Analysts at several major banks expect the Monetary Policy Committee (MPC) will increase the Bank Rate to 4pc on Nov 5, as new escalations in the war in Iran send oil prices soaring.

Interest rates, which you might already be familiar with since they're often referred to regarding loans and mortgages, also affect money sitting in your bank account. Money in your checking and savings accounts can earn interest, and the APYs of these accounts are affected by Federal Reserve interest rates as well.

Central banks in the US, UK and Japan are all due to decide interest rates this week, while Australian markets are looking ahead to the RBA’s next decision on 29.

The base rate influences how much interest you pay on mortgages, credit cards and loans and is currently set at 3.75%

The European Central Bank is raising interest rates to cool inflation that is being fed by high oil prices from the Iran war.