Traditionally increasing interest rates have been perceived as bad news for mortgage holder and good news for savers. It is also probably fair to say that BA pensioners are more likely to be savers than worrying about paying a mortgage alongside decade high inflation.
However, there is a downside to be aware of. The current personal saving allowance is currently £1,000 for a basic rate tax payer and £500 for a higher rate tax payer. So, the increasing interest rates mean that more savers will breach these allowances and have a tax liability.
At this relatively early stage of the tax year it would be a good time to assess your likely interest income in 23/24 and consider how best to avoid an unwanted tax bill in 2024.
More information can be found in this article on the Which web site.