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The Latest Breaking News from Bank of England

Mortgages to cost 1m borrowers extra £500 a month by 2026, Bank warns

Bank of England says millions of homeowners will be paying up to £220 more a month by end of year

The Guardian - UK

Rental market crisis looms as landlords face ‘hike rents or sell up’ dilemma amid mortgage chaos

Rising mortgage rates are will have a severe impact on buy-to-let landlords and their tenants

Evening Standard

Five options to get the UK back to 2% inflation

Bank of England (BoE) governor Andrew Bailey has said inflation will fall “markedly” this year, as he signalled that the central bank is likely to raise interest rates once again in an attempt to reach its 2% inflation target.

The Week

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

FTSE 100 Live: Shares soar as banks pass stress test, pound at $1.30 as US inflation falls to 3.0%

Burberry has revealed a strong start to its financial year as the luxury goods group sees a surge in demand from Chinese consumers.

Evening Standard

A million UK households face £500 rise in monthly mortgage payments; US inflation drops to 3% – as it happened

Bank of England chief says there ‘will be consequences’ of higher interest rates, as all UK banks pass stress tests

The Guardian - UK

When is the UK’s next inflation report and what is it likely to recommend?

The data has been described as a ‘glimmer of light’ for the Bank of England

Evening Standard

Traders double down on interest rate rise bets as pound hits 15-month high

Markets are pricing in an interest rate peak of 6.5%, probably early next year

Evening Standard

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Wage restraint fantasy borders on the comical

City Comment: ‘No one wants to see unemployment higher’, claims Andrew Bailey, while giving every indication that’s exactly what he wants.

Evening Standard

Mortgage rates soar again to surpass Liz Truss mini-Budget peak

‘Personal hell’ for homewners as average two-year deal reach 6.66 per cent – rates not seen since 2008 banking crash

The Independent UK

Rising mortgage rates will cause ‘financial stress’, MPs hear, as two-year fixed rates hit 15-year high – as it happened

Treasury Committee quiz lenders about mortgage rates, as two-year fixed mortgage rate rises to 6.66%, highest since 2008

The Guardian - UK

Record UK pay growth adds to pressure for interest rate rise

Jeremy Hunt and Bank of England’s Andrew Bailey call for wage restraint to help curb inflation

The Guardian - UK

Bank of England boss vows to ‘see the job through’ on reducing inflation

Andrew Bailey to give speech in City of London signalling further interest rate rises are in store

The Guardian - UK

Fresh fears for house prices after fastest drop in 12 years

Average home loses 2.6 per cent of value as Bank of England warned not to ‘tank’ mortgage market with interest-rate rise

The Independent UK

Labour tells Jeremy Hunt his advisers must not undermine Bank of England

Exclusive: Members of Mr Hunt’s Economic Advisory Council said the Bank had ‘tried to be too cute’ by not being clear enough on the need for interest rates hikes

The Independent UK

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Insider UK

Banks recognise savers need more help accessing best rates - FCA

Yesterday saw a flurry of new savings rate announcements from banks and building societies

The Independent UK

Bank of England warned 7 per cent interest rates would send shock wave through housing market

A leading economist says there is ‘no need to panic’ as Britain is ‘not in an 07-08 scenario’

The Independent UK

Banks recognise savers need more help accessing best rates, says City regulator

The Financial Conduct Authority said it had held a ‘constructive’ meeting with savings providers.

Evening Standard

Bank of England’s governor accuses retailers of profiteering during cost of living crisis

Andrew Bailey has come out swinging against retailers and backed regulators

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Manchester Evening News

Housebuilding slump drags construction sector into decline

Higher mortgage rates are taking their toll across the sector

The Independent UK

Bank boss Bailey slams petrol companies for overcharging motorists

The Bank of England governor said petrol retailers have been ‘charging too much’

The Guardian - UK

FTSE 100 hits lowest closing level of 2023 as interest rate rise fears grip markets – business live

FTSE 100 index posts biggest one-day fall since March, as strong US jobs report fuels fears of even higher US interest rates

The Independent UK

Bank of England may have to hike interest rates to 7% to curb inflation, economists warn

Fears heighten for UK economy and household budgets as expert says ‘hard landing increasingly likely’

The Week

Why aren’t soaring interest rates bringing down inflation?

Rishi Sunak has blamed the high number of fixed-rate mortgages for his government’s failure to bring down inflation.

Birmingham Post

East Midlands bucking dire UK economic trend

Though not out of the woods, regional economy continuing pick-up that began at the start of this year

Manchester Evening News

The average five-year fixed mortgage hits six per cent as Bank of England squeezes would-be housebuyers

Interest rate hits worst levels since Liz Truss' implosive 'mini budget' last year

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