//And the UK is heading for the highest interest rates ever recorded in Britain//
You need to swot up a bit.
Most analysts are forecasting rates peaking at about 6% to 7%. The Bank Rate It was 7% or higher from August 1997 to October 1998. It was in double figures between July 1988 and May 1992 and from January 1985 to May 1986. Between June 1978 and October 1982 it remained over 10%, peaking at 17.0% November 1979. There’s an interesting graph in this article illustrating some of this:
https://www.bbc.co.uk/news/business-57764601
That article also explains that many other countries are experiencing similar problems and are taking similar action. There is a long way to go before the UK experiences “the highest interest rates ever recorded.” But I’m fairly sure you know that.