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The Latest Breaking News from Interest Rates

Bank of England raises interest rates by a half point to 5%

Move brings borrowing costs to highest level since April 2008 as Bank intensifies efforts to control inflation

The Guardian - UK

Lloyds, Barclays, Halifax, HSBC: All the variable mortgage rates right now as interest rates to rise for 13th time

Some banks will be increasing their rates in a few weeks

Wales Online

Mortgage warning for millions as interest rates set to rise again today

The Bank of England is set to increase the base rate for the 13th time in a row

Liverpool Echo

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Why are interest rates going up – and what does it mean for mortgages?

Markets are now anticipating a high of 6% by early next year

The Independent UK

Labour rule out subsidies for mortgage holders as interest rates rocket

Rachel Reeves has ruled out Labour backing plans that would see subsidies or financial support for mortgage holders, as struggling homeowners brace…

The National (Scotland)

Rishi Sunak says he is ‘totally, 100% on it’ in battle against inflation – as it happened

Prime minister says he knows people will be anxious about rate rise but ‘it is going to be OK’

The Guardian - UK

Three ways the Bank of England could try and cut inflation without rising interest rates

The Bank of England has upped its base interest rate again today but are there any other ways it can tackle inflation? - The Mirror asked three financial experts to find out if there is anything else that could be done

Daily Mirror

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Trigger recession to tame inflation, say economists – as Bank set to hike interest rates

‘There’s no other way around it’, says Jeremy Hunt adviser on looming UK recession

The Independent UK

FTSE 100 Live: ‘Mortgage holders need to prepare for more pain ahead’ — Bank of England interest rates hit 5%

Consumers are showing signs of resilience after figures today revealed retail sales rose in May.

Evening Standard

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

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

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The Independent 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 Guardian - 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

Barchart

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...

StockNews.com

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….

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The Independent UK

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

Fortune

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.

Barchart

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...

Evening Standard

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…

Axios

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.

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

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