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The Latest Breaking News from Bank of England

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

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

From analysis to the latest developments in health,
read the most diverse news in one place.

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

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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

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

The Independent UK

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

Daily Mirror

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

Nottingham Post

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’

The Independent 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 Guardian - UK

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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.

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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.

Evening Standard

Inflation won’t disappear on its own. The Bank of England will need to plunge us into recession

City voices: Without economic pain, nothing changes

Liverpool Echo

HMRC warning as taxpayers could be made to pay more money

HMRC has confirmed its interest rate will rise following the Bank of England announcement on Thursday

Barchart

Dollar Sees Support as T-note Yields Rise on Hawkish Fed

The dollar index (DXY00 ) on Thursday rose by +0.33% due to hawkish global central banks and a +7.4 bp rise in the 10-year T-note yield to 3.793%. The dollar also saw support from U.S. economic reports that were mildly stronger than expected overall. EUR/USD (^EURUSD ) fell by -0.27%,...

The Guardian - UK

Markets predict 6% UK interest rate by end of year

Rates will remain at level until summer 2024 after Bank of England hikes benchmark rate by half a percentage point

Daily Mirror

'My mortgage is going up - I'm considering selling as it's already hiked by 55%'

Following Bank of England's decision to hike interest rates to five per cent, single mum Abigail Tunstall has shared the struggle it will cause her and millions of others across the UK

The Guardian - UK

Who hires (and fires) the Bank of England governor?

PM says he still backs Andrew Bailey despite criticism he has failed to take the right measures to curb inflation

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