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The Latest Breaking News from Bank of England

Mortgage rates: Is there more pain to come for households?

Here is a look at what is behind recent mortgage rate rises and what is predicted to happen next.

The Independent UK

Public sees a way out of cost-of-living crisis, with inflation expected to fall to just 3.5% by next May

Inflation expectations were down from 3.9% in the previous survey

Evening Standard

Windrush ‘pardner hand’ saving scheme celebrated at Bank of England Museum

When people came from the Caribbean last century and were turned away by banks, many relied on communal trust

The Guardian - UK

From analysis to the latest developments in health,
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‘No alternative’ to interest rate rises for lowering inflation - Chancellor

Households are braced for a further increase in rates from the Bank of England next week

Insider UK

European Central Bank raises interest rates to fight inflation; Nationwide to lift fixed mortgage rates – as it happened

UK mortgage holders face worst squeeze since 1990s crash, while Europe’s central bank hikes borrowing costs to battle inflation

The Guardian - UK

Who will get the blame for UK mortgage misery?

The government has ordered banks to protect people struggling to pay their mortgages as interest rates were predicted to rise as high as 6% by the end of the year.

The Week

Attacks on Andrew Bailey are understandable, but a little unfair

City Comment: The Bank of England governor has got a near impossible job

Evening Standard

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Pound hits one-year high as more interest rate hikes loom; UK grows in April; WE Soda cancels London float – as it happened

UK economy has bounced back from March’s contraction, but experts fear rising interest rates will cause recession

The Guardian - UK

More mortgage pain for homeowners as rates rise to highest since Truss mini-Budget disaster

Bank of England is under pressure to act next week

The Independent UK

Watch : Andrew Bailey questioned on Bank of England independence by House of Lords committee

Watch as Bank of England governor Andrew Bailey appears before the House of Lords Economic Affairs Committee as part of an inquiry into central bank independence on Tuesday, 13 June.

The Independent UK

Mortgage borrowers warned of further rate rises as ANOTHER major lender pulls deals

Santander is the latest major mortgage lender to announce a temporary pause on some mortgage applications, with plans to relaunch its products on Wednesday

Daily Mirror

Don’t rule out half-point interest rate rise after pickup in UK wage growth

Bank of England had been looking for signs of labour market softening so it could take foot off brake

The Guardian - UK

Mortgage mayhem: NatWest increases rates as Santander temporarily pulls some deals – as it happened

Bank of England policymaker Jonathan Haskel says interest rates may need to rise higher, as mortgage providers raise rates or withdraw deals

The Guardian - UK

Mortgage turbulence continues as HSBC pulls deals; UK house prices ‘to fall 10%’ – business live

HSBC temporarily removes mortgage products for new customers, as borrowers face higher rates

The Guardian - UK

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Liverpool Echo

Bank of England: When will UK interest rates go down?

Martin Lewis has shared his verdict as the base rate is expected to rise

The Guardian - UK

UK’s biggest banks urged to increase ‘measly’ savings rates

MPs question why some savers are receiving only 0.25% despite 12 consecutive Bank of England interest rate rises

The Independent UK

What could another base rate rise mean for some homeowners across England?

TotallyMoney looked at what a base rate hike could mean for mortgage payers if the Bank of England decided to raise the base rate from 4.50% to 4.75%.

Manchester Evening News

Average two-year fixed-rate mortgage increases by £35 a month in weeks

It comes as a Bank of England interest rate review takes place later this month

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news in one place.

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The Independent UK

Banks set out plans to hike savings rates next week

Savers languishing on poor savings rates have been urged to ditch and switch to find a better deal.

The Conversation

Why UK inflation is so high compared to EU and US and what to do about it

Britain has a bigger inflation problem than either the US or the eurozone, according to Bank of England policymaker Catherine Mann.

The Independent UK

£9bn boost for Isa savings in April as new tax year started

Higher savings rates and frozen tax thresholds mean protecting savings from tax is a top priority, one expert said.

The Independent UK

Housing market headwinds set to strengthen in near term, says Nationwide

Across the UK, house prices fell by 0.1% month on month and by 3.4% annually in May, Nationwide Building Society said.

Chronicle Live

Martin Lewis' Money Saving Expert advises if you should fix your mortgage deal as 1.4million deals end

The most recent MSE newsletter claims that 1.4million mortgage deals will come to a close this year - leaving many homeowners to consider how a new interest rate hike could affect monthly repayments.

Evening Standard

Six per cent interest rate warning in ‘bumpy’ battle to halve inflation this year

‘We are going to stay the course and get inflation down,’ Work and Pensions Secretary Mel Stride said

Daily Mirror

Martin Lewis' MSE website explains if you should fix your mortgage deal now

The recent Money Saving Expert (MSE) newsletter reported that 1.4million mortgage deals are coming to an end this year, so many will need to think about how the next interest rate rise could affect their mortgage payments

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