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The Latest Breaking News from Interest Rates

Britain heading for year-long recession - but PM and Chancellor nowhere to be seen

Prime Minister Boris Johnson is reportedly on honeymoon in Slovenia while Chancellor Nadhim Zahawi enjoys a family break while families around the country are worried about how they'll pay their bills

Daily Mirror

Conservative leadership debate LIVE: Liz Truss says there is no need to balance books ‘prematurely’ despite interest rate rise

The Foreign Secretary claimed that her tax cuts would help to repay public debt back in the long-term

Evening Standard

Boris Johnson and Chancellor Nadhim Zahawi on holiday despite financial gloom

Both men were away from Westminster as the Bank of England raised interest rates again and warned of the longest recession since the financial crisis.

The Independent UK

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The Leader podcast: Interest rates rise as UK faces another recession

The UK is once again facing a recession, as the Bank of England announced its predictions for the economy, alongside a 0.5% rise in interest rates.

Evening Standard

Interest hits 1.75% in biggest rise in 27 years - here's what it means for you

The Bank of England has confirmed that interest rates will shoot from 1.25% to 1.75% - the biggest percentage point rise in some 27 years.

Chronicle Live

All you need to know about rising interest rates including savings and mortgages

The Bank of England has increased its base rate from 1.25% to 1.75% - a rise of 0.5 percentage points. It argues that raising rates now will bring inflation under control sooner

Daily Mirror

Boris Johnson and Keir Starmer both on holiday as economy crumbles

BORIS Johnson has come under fire for being on holiday while the UK is forecast to go into recession amid rising interest rates and inflation.

The National (Scotland)

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"Tory created cost of living crisis.” says MSP Natalie Don

MSP Natalie Don says that the UK Government have lost control of the economy

Daily Record

Mortgage lenders urged to scrap exit fees as interest rates rise again

As many as 4million families in Britain are thought to be on fixed rate deals

Wales Online

Bank of England raises interest rates in bid to tame inflation

UK’s central bank hikes key interest rate to 1.75 percent, its highest level since 2008, and warns of recession ahead.

Al Jazeera

Interest rates rise to 1.75%, with UK set to enter recession this year

Bank of England hikes rates to their highest level since January 2009

Insider UK

Finance expert explains how to avoid a credit card rate rise as recession looms

Interest rates have risen to their highest level since 2008

The National (Scotland)

Interest rates: What will the Bank of England increase mean for mortgages and house prices?

The two million people with variable rate mortgages are particularly vulnerable to the rise in interest rates, while first-time buyers are expected to find it more of a struggle to get on the property ladder

The Independent UK

Bank of England raises interest rates to 1.75% amid recession warning

The Bank of England raised interest rates by half a percentage point on Thursday in the biggest increase in the cost of borrowing for 27 years.It is the sixth consecutive hike from the Bank’s Monetary Policy Committee (MPC) since December and lifts its key lending rate from 1.25 per cent…

Evening Standard

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The National (Scotland)

'Final straw' warning for struggling hospitality sector as recession threat looms

SOARING interest rates could be the “final straw” for struggling hospitality businesses, industry leaders have warned as the UK economy faces a…

The Conversation

Inflation rates are rising in the US – an economist explains why

Consumer prices in the U.S. are rising due to inflation at the fastest rate they have in decades. Earlier this summer, SciLine interviewed Martha Olney, a teaching professor emerita of economics at the University of California, Berkeley, about what’s causing prices to rise and what the government can do to…

Wales Online

The UK is facing the worst recession since the financial crisis, warns the Bank of England

UK faces a bleak year as living standards plunge and inflation is set to hit 13% and the UK faces the longest economic downturn since the 2008 financial crisis

The Guardian - UK

As recession looms, the Bank of England’s independence is under threat

Analysis: The monetary policy committee has been accused of being asleep at the wheel amid cost of living crisis

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The Guardian - UK

What does the Bank of England interest rate rise mean for you?

From first-time home buyers to credit card users, we look at how your finances may be affected

The Guardian - UK

Bank of England hikes rates as it predicts 13% inflation and long recession

Base rate raised by 0.5 percentage points to 1.75%, as Bank says inflation will hit 13% in October

Evening Standard

Bank of England warns of long recession in 2023 as it hikes interest rates

Economists say bleak new GDP and inflation forecasts are a “horror show.”

Manchester Evening News

Bank of England raises interest rates to 1.75 per cent - the biggest hike in 27 years

It comes after experts warned that inflation could peak at 15 per cent

Manchester Evening News

UK interest rates rise in biggest increase for 27 years - how it will affect you and your mortgage

Interest rates are now at the highest level in 27 years

The National (Scotland)

UK economy to fall into recession, predicts Bank of England as interest rates hiked

THE Bank of England has made its biggest increase in UK interest rates in 27 years while inflation is expected to peak at 13.3 per cent in October.

Daily Mirror

Why are interest rates rising and when will they fall again?

The Bank of England has put up interest rates as it looks to grapple soaring inflation by making it more expensive to borrow and more rewarding to save money

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