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The Latest Breaking News from Bank of England

Dollar Sees Support from Hawkish Powell Comments

The dollar index (DXY00 ) on Wednesday rose by +0.40% as the market focused on Fed Chair Powell’s comment that he would not “at all” rule out two consecutive rate hikes. The markets are discounting only one +25 bp rate hike through year-end. Meanwhile, EUR/USD (^EURUSD ) fell -0.41% on...

Barchart

High interest rates may persist, says Bank of England governor

Andrew Bailey says financial markets expect more rate rises amid continuing high inflation

The Guardian - UK

Five parts of the economy that are hit when house prices fall

UK house price growth is slowing. While prices rose 1.2% in June compared to last year, this is down on May’s 1.9% growth, according to property website Zoopla. Its house price index – which forecasts a 5% fall in house prices this year – also shows that 42% of sellers…

The Conversation

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read the most diverse news in one place.

Central Bankers Maintain Their Hawkish Bias at ECB’s Policy Forum

Central bank chiefs kept up their hawkish language as they appeared today on a policy panel at the ECB’s policy retreat in Sintra, Portugal. Fed Chair Powell said he won’t take two consecutive rate hikes off the table “at all.” Powell also said, “Policy hasn’t been restrictive for very long....

Barchart

Bank of England admits its own forecasts ‘unworkable’ in inflation crisis

Central bank’s model ‘based on last quarter century’, concedes chief economist Huw Pill

The Independent UK

Homeowners forced to cut asking prices to sell homes as 5 percent mortgage rates spark 'tipping point'

Millions of people are already bearing the brunt of the Bank of England's latest interest rate hike

Manchester Evening News

UK facing a YEAR-LONG recession if interest rates are increased again, experts warn

Economists at Bloomberg are expecting a 'shallow' recession as the Bank of England puts up interest rates - but the experts believe this will likely by over by next year's election

Daily Mirror

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Bank of England’s quantitative easing scheme let ‘inflation take root’

UK economy became reliant on cheap money due to the Bank’s actions, warns former permanent secretary to the Treasury

The Guardian - UK

£23,000 warning to anyone with a mortgage

Monthly mortgage repayments are skyrocketing

Liverpool Echo

Thames Water CEO quits in shock departure; UK supermarkets deny profiteering; Brexit ‘fuelling inflation’ – as it happened

Thames Water has announced that Sarah Bentley has resigned as chief executive of the company.

The Guardian - UK

Strong spending at Primark eases fears on economy but adds to inflation worries

Associated British Foods, the chain’s owner, ups profit forecasts

Evening Standard

Bank of England’s Andrew Bailey is out of tune with reality on pay rises

City comment: Is the Governor of the Bank of England a Glastonbury fan? He keeps singing the same old tune

Evening Standard

Martin Lewis says banks are 'profiteering' after being bailed out in 2007

It comes as interest rates hiked to 5 percent last week

Manchester Evening News

Bank of England boss must go if he doesn’t change course, says senior Tory

‘Maybe it’s time to look for someone else who’s got a better plan’, says Jake Berry

The Independent UK

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The Independent UK

Row as Ben Elton uses BBC to label Sunak ‘narcissistic sociopath’

Row over use of comedians on political show, as Tories complain following Joe Lycett outburst nine months ago

Daily Mirror

Pay rises for fat cat bosses blamed for inflation amid 'scapegoating' of workers fury

The salaries of the top 10% has outstripped the rest of the workforce - but the Bank of England has sparked anger by appearing to blame wage demands from low and mid earners and the Government may overrule public service pay bodies

Nottingham Post

Concern 'it will get worse' for Nottinghamshire homeowners caught in mortgage rate 'struggle'

The Bank of England on Thursday, June 22 hiked interest rates to 5 per cent, further straining the finances of millions of homeowners across the country

The Independent UK

Jeremy Hunt’s mortgages deal dismissed as ‘sticking plaster’ as Sunak urged to offer subsidies

Government told to offer direct support to homeowners – as chancellor’s agreement with banks dismissed as a ‘water pistol to put out a fire’

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news in one place.

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The Guardian - UK

Why are UK banks taking so long to pass higher interest rates on to savers?

Delay is under intense scrutiny from City watchdog – but it may not be simple profiteering

The Guardian - UK

Rishi Sunak forced to acknowledge control of inflation lies with Bank of England

Chancellor agrees ‘mortgage charter’ to help borrowers but Labour says intervention is ‘weak’

The Conversation

House prices are falling, but that doesn't mean you should buy now – here's what first-time buyers should consider

House prices in the UK fell by 3.4% in the last year, the biggest annual fall in nearly 14 years. The inflation-adjusted average house price is now what it was in 2014.

Daily Mirror

Martin Lewis shares vital verdict on Jeremy Hunt's mortgage help announcement

Yesterday the Bank of England upped its base interest rate to 5% and the Money Saving Expert responded by saying that "help was desperately needed"

Liverpool Echo

Jeremy Hunt agrees plan to help struggling mortgage holders

The Chancellor has agreed measures with lenders in the wake of a Bank of England interest rate hike

The Independent UK

The whole thing is a scam, says variable rate mortgage holder on interest hike

The Bank of England hiked the base interest rate for the 13th time in a row on Thursday in a move set to cause more pain for mortgage holders.

Daily Mirror

Paypal to bring in major change for users as Bank of England hikes interest rate

Paypal credit customers received the email informing them of the hike in interest merely hours are the Bank of England's base rate rise.

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