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The Latest Breaking News from Interest Rates

Bank of England governor denies trying to trigger recession after hiking interest rates to 5% – as it happened

Rolling coverage as the Bank of England lifts UK interest rates to a 15-year high, as it contnues to fight inflation

The Guardian - UK

Londoners face £1,000 hike in monthly mortgage bills as BoE fights runaway inflation

The average two-year rate continued to surge today, hitting 6.19%

Evening Standard

Interest rates – live: UK ‘set for recession’ as under-fire bank chief attacks businesses

Bank raises UK interest rate to 5 per cent from 4.5 per cent

The Independent UK

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Bank of England set to raise interest rates again as high inflation sticks

Economists agree that the Bank is likely to raise interest rates on Thursday, and that more hikes are on the horizon

Evening Standard

‘This is ruining people’s lives’: homeowners hit by UK mortgage crisis speak out

Borrowers with expiring fixed-rate or tracker mortgages face difficulties, with some saying they will be forced to sell their homes

The Guardian - UK

Rishi Sunak says he feels ‘deep moral responsibility’ to cut inflation

Prime minister to say it is imperative he ‘hold his nerve’ in commitment to half inflation

The Independent UK

Labour piles pressure on Sunak with plan to prevent ‘mortgage catastrophe’

Shadow chancellor Rachel Reeves says party would force banks to take a range of steps to protect borrowers

The Guardian - UK

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Dollar Falls Despite Powell’s Hawkish Bias

The dollar index (DXY00 ) on Wednesday fell -0.46% on bearish technical sentiment, with the dollar index knocking on the door of last week’s 5-week low. The forex market remains focused on monetary policy differentials, with the ECB and Bank of England continuing to raise interest rates while the Fed...

Barchart

The Top 3 Growth Stocks to Add to Your Portfolio Today

In the current market backdrop, where the Federal Reserve is expected to continue raising interest rates, investing in growth stocks can help weather the storm. Fundamentally sound growth stocks such as Expedia Group (EXPE), Extreme Networks (EXTR), and FutureFuel Corp. (FF) could be wise additions to your portfolio. Read on….

StockNews.com

Rishi Sunak warned of ‘serious shock’ for mortgage holders as Bank of England poised to raise interest rates

Experts warn 1.4m homeowners will see a fifth of their disposable income wiped out by soaring mortgage rates

The Independent UK

4 tips to avoid maxing out your credit card

More than 30% of Americans would lean on a credit card to cover a financial emergency.

Fortune

Markets Doubt FOMC Will Follow Through on its Forecast for +50 bp Rate Hike

Fed Chair Powell today presented his semi-annual testimony before the House Financial Services Committee. Mr. Powell will appear Thursday before the Senate Banking Committee and repeat his prepared testimony, although he will answer different questions from panel members. Mr. Powell’s prepared statement today was in line with his comments last...

Barchart

OPINION - Bank of England acted too late on inflation and now homeowners will pay

This morning’s UK inflation data can be described in just two words: truly horrible. With headline inflation stuck at 8.7 per cent and core underlying inflation rising from 6.8 per cent to 7.1 per cent, the Bank of England is facing a huge problem. Most thought the Bank’s key policy…

Evening Standard

Fed chair expects interest rates will increase "somewhat further" this year

He is expected to tell lawmakers that there is still "a long way to go" to cool inflation.

Axios

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Daily Record

Inflation hitting Scots hard as cost of food and fuel remain 'eye-wateringly high'

Experts warned Scots face "a miserable summer" of high inflation and higher interest rates.

Evening Standard

Londoners and under-40s hardest hit by Britain’s mortgage rate mayhem (and don’t forget renters)

Inflation refuses to budge as under-40s, renters and London homeowners feel the pain

Daily Mirror

Interest rate hikes could see 1.4million Brits lose 20% of disposable income

The Bank of England is expected to raise the base rate - which influences interest rates lenders charge for mortgages, loans and other types of credit - again tomorrow in an effort to curb inflation

Evening Standard

London house market faces ‘slowdown’ as Bank of England risks overdoing rate rises says Berkeley boss

Rob Perrins, one of the longest-serving CEOs on the FTSE 100, does not expect house prices to fall

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Evening Standard

Bank of England could spring interest rate ‘jumbo hike’ today amid wage-price spiral fears

With inflation stuck at 8.7%, economists said a jump straight to 5% interest rates might be needed

The Guardian - UK

Will Rishi Sunak meet his December deadline to halve UK inflation?

As Bank raises interest rates again and big business greedflation pushes prices higher, the PM’s vow is a gamble

Daily Record

Martin Lewis warns mortgage ‘ticking time bomb’ is now exploding with no rescue package on the way

The consumer champion is keen to see ‘soft or hard political pressure’ put on banks to make things better for mortgage holders.

GoodToKnow

What does a change in inflation mean for your family?

Inflation is hitting the news again, but what does the latest change mean for your family and your money

The Guardian - UK

There’s only one way to tackle Britain’s mortgage meltdown – get the banks to cough up

The big five owe the public for the 2008 bailout – and they are taking in enormous profits while many homeowners and renters struggle, says former chancellor John McDonnell

Daily Mirror

How much your mortgage will rise by if Bank of England hikes interest rates today

Some analysts expect the base rate to rise by 0.25 percentage points to 4.75% with others predicting an even bigger increase to 5% - so how much would your mortgage rise by?

Daily Record

Inflation for May remains high at 8.7% putting more pressure on household finances this summer

Economy experts had expected inflation to fall last month to 8.4%.

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