The Latest Breaking News from Interest Rates

TransUnion’s Quarterly Credit Industry Insights Report (CIIR) shows that credit card balances remain near record highs at $917 billion as consumers turn to credit products to cover rising costs.

Central bank economists also released a record upgrade to their economic growth expectations

Base rates hit 4.5% for first time since 2008

Peter Dutton uses his budget reply speech to lay the blame for any future increase to interest rates at the feet of the Albanese government.

The Bank of England has hiked the interest rate to 4.5%

Experts have warned the rise will affect the property market, with lenders already raising their rates

BoE governor Andrew Bailey predicts inflation will have halved by the end of this year, thanks to falling energy bills

UK GDP fell by 0.3% in March, but that wasn’t enough to prevent the economy from growing over the quarter, the Office for National Statistics revealed today.

The Bank of England is set to raise interest rates to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K. Financial markets expect the bank’s nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point…