How the Bank of England's policy affects you

The Bank of England decides on the level of the Bank rate - used by lenders to set their own rates

The Bank of England has outlined its strategy for future interest rate changes - and it is likely to mean further pain for savers, but continued cheap mortgage rates.

Governor Mark Carney said that the Bank would not consider an increase in the current record low level of interest rates unless unemployment falls or inflation gets out of control.

So how might the strategy - known in the jargon as forward guidance - affect your financial decisions.

What has the Bank's governor said?

Why did Mr Carney bother telling us about this strategy?

What will this mean for homeowners?

Saving. Now that's tough isn't it?

So should we all go out and spend, not save?

How might small businesses be affected?