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The Latest Breaking News from Bank of England

The latest Bank of England rate rise won't do much to tackle inflation - here's what could work

There wasn’t much dramatic tension as markets waited for the Bank of England’s latest decision on interest rates. The fifth monthly quarter-point hike in a row was largely expected, taking the base rate to 1.25% in June 2022. All the announcement really revealed, in fact, was what a mess UK…

The Conversation

Mortgage rate rise options for homeowners after Bank of England decision

Millions of people are facing higher repayments after the base rate rose once again

Nottingham Post

Barclays, Santander and other banks confirm when mortgage interest rates will go up

Millions of homeowners are set to be affected by the rise

Nottingham Post

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Martin Lewis issues urgent energy bill warning to every household over tariff fixes ahead of next price cap

The clock is ticking if you want to reduce the impact of the next hike.

Daily Record

Northern Tories tell Boris Johnson to cut taxes or risk an election wipeout

Influential backbencher Jake Berry said parties that fail to listen to their voters face 'political annihilation' as he calls on the PM to lower taxes

Daily Mirror

Santander, TSB and more banks deliver update on when mortgages will go up after rate rise

The Bank of England (BoE) yesterday confirmed it has upped its base rate from 1% to 1.25% in a move that affects around two million homeowners. It means those on a tracker mortgage and most SVR deals will see their mortgage go up

Daily Mirror

London businesses ‘overwhelmed’ by soaring costs and staff shortages as ministers urged to cut taxes

The London Chamber of Commerce and Industry is demanding action from the Government to protect its members

Evening Standard

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Global stock markets head for steepest weekly fall since 2020 as recession fears rise – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Profiteering bosses, not workers, are pushing up inflation. Here’s how to fight back

Unite’s leader, Sharon Graham, is leading the charge against 21st-century corporations. Why isn’t Labour following suit, asks Guardian columnist Aditya Chakrabortty

The Guardian - UK

All you need to know about UK's interest rate hike, and what it means for you

Borrowers will see increases to their mortgages and could see hikes to overdraft and credit card rates

Liverpool Echo

Stock markets plunge again as flurry of interest rate hikes fuels recession fears

Investors wary as other central banks follow US Federal Reserve in raising borrowing costs

The Guardian - AU

Brits warned UK 'may already be in recession' as inflation could climb to 11%

Experts have warned that Britain may be sliding into a recession as inflation continues to soar and the Bank of England is forced to raise interest rates for the fifth time

Daily Mirror

No tax cuts in England before inflation is tamed, ministers suggest

Rishi Sunak and Michael Gove appeared to indicate that fellow Conservative MPs pushing for tax cuts would have to wait as such measures could fuel runaway inflation

Wales Online

Interest rate rise - all you need to know including impact on mortgage payments

Today's interest rates increase is expected to add around £21 a month - £252 a year - to the average repayments for a borrower with a £150,000 mortgage who is on their lender’s standard variable rate

Daily Mirror

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Nottingham Post

Chancellor Rishi Sunak's message of 'reassurance' to Nottingham over cost of living crisis

'This is important for your readers - I really want them to be reassured that we will get inflation back under control'

Evening Standard

Mortgage repayments get more expensive overnight as Bank of England raises interest rates

Putting yet more pressure on households struggling with the cost of living, mortgages are getting progressively more expensive

Daily Mirror

Economists blast Boris Johnson for 'suppressing' Brits' wages as inflation soars

Economists from a host of universities and think tanks have written to the Prime Minister dismissing his claims over pay hikes fuelling inflation

Daily Mirror

Summer of discontent as UK hit by new Covid wave, strike chaos and rising prices

The threat of the biggest industrial action to hit Britain since 1926 is looming amid a record wave of energy price hikes which has stoked fears echoing those during the 1978-79 'winter of discontent'

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Evening Standard

Party-Geidt

Lord Geidt’s resignation letter is bad for the Government. In it, the Prime Minister’s now-former ethics advisor accuses him of risking a “deliberate and purposeful breach of the ministerial code” that had placed Geidt in an “impossible and odious position”.

Daily Mirror

Homeowners face a £1667 increase in annual mortgage payments as BoE hikes interest rates again

Today’s announcement adds to consumer concern about the current economic climate, with Brits already struggling with the soaring inflation and cost of living crisis

The Independent UK

‘Tough times ahead’ for economy, warns Gove

The Communities Secretary said the Government and the Bank of England needed to ‘squeeze’ inflation out of the economy.

The Guardian - UK

What the Bank of England’s base rate rise to 1.25% means for you

The effect of the interest rate increase on mortgages, savings, annuities, house prices and rents

Benzinga

Bank Of England Hikes Interest Rates For Fifth Straight Time To Address Inflation

The Bank of England has initiated its fifth consecutive interest rate hike with a 25 basis point uptick to 1.25%.

The Guardian - UK

Bank’s rate rise is a couple of sparklers compared with Fed’s fireworks

The next time the Bank of England debates interest rates, we’re likely to see a half-point increase

Evening Standard

Analysis: A banquet of bad news from the Bank of England - but let’s stay hopeful on jobs

Bank of England says it will “act forcefully” to put the brake on inflation

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