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The Latest Breaking News from The Bank of England

The whole thing is a scam, says variable rate mortgage holder on interest hike

The Bank of England hiked the base interest rate for the 13th time in a row on Thursday in a move set to cause more pain for mortgage holders.

The Independent UK

Jeremy Hunt announces bank measures for mortgage holders - but no Government help

It comes after the Bank of England hiked interest rates to 5% - piling mortgage misery on cash-strapped families

Daily Mirror

Paypal to bring in major change for users as Bank of England hikes interest rate

Paypal credit customers received the email informing them of the hike in interest merely hours are the Bank of England's base rate rise.

Daily Mirror

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Quiz of The Week: 17 - 23 June

UK borrowers got further bad news this week as the Bank of England hiked interest rates from 4.5% to 5%.

The Week

How Bank of England base rate rise to 5% could impact people with all types of mortgage

Chancellor Jeremy Hunt and major banks agreed measures on Friday to help ease the pain of rising rates.

Daily Record

Inflation won’t disappear on its own. The Bank of England will need to plunge us into recession

City voices: Without economic pain, nothing changes

Evening Standard

Bank of England and lenders are pulling in the opposite direction

City comment: As long as the Government keeps applying pressure to lower borrowing costs, bank shares are a clear sell

Evening Standard

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Mortgage crisis: UK lenders agree to 12-month grace period on repossessions

Measure among three agreed at meeting with chancellor to help struggling households after sharp rate hike

The Guardian - UK

UK Government needs to take decisive action as mortgage costs soar on rising interest rates

Jeremy Hunt has to get lenders to do all they can to support hard pressed customers

Birmingham Post

Stock market today: Asian shares sink as central banks crank interest rates still higher

Asian shares have fallen sharply after several central banks around the world cranked interest rates higher in their fight against inflation

The Independent UK

Banks slammed for dragging their feet in passing on interest rate rises to loyal savers

Britain’s banks were slammed on Friday for failing to quickly hike saving rates after the Bank of England increases interest rates.

Evening Standard

HMRC warning as taxpayers could be made to pay more money

HMRC has confirmed its interest rate will rise following the Bank of England announcement on Thursday

Liverpool Echo

Jeremy Hunt to meet with lenders as mortgage crisis worsens with rates hike

The Chancellor will meet with banks including HSBC and Santander.

The Independent UK

Mini-budget chaos exposed ‘lax approach’ to pensions regulation, MPs say

Sir Stephen Timms said pension scheme investments must ‘never again threaten the stability of the UK economy’.

The Independent UK

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Daily Mirror

'Inflation woes are not an accident, they are consequence of successive Tory governments'

The Bank of England has used the only weapon in its armoury to try to bring down inflation. But this is a crisis that has been incubated in Downing Street

Barchart

Mega Tech Stocks Move Higher Despite Hawkish Central Banks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Thursday rose by +0.37%, the Dow Jones Industrials Index ($DOWI ) (DIA ) fell by -0.01%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) rose by +1.18%. U.S. stocks saw support Thursday from a rally in...

The Guardian - UK

‘Shock and awe’ interest rate rise leaves Sunak’s cost of living pledge in tatters

Bank raises base rate to 5% and is predicted to go to 6% as pressure grows on government to intervene

The Guardian - UK

Markets predict 6% UK interest rate by end of year

Rates will remain at level until summer 2024 after Bank of England hikes benchmark rate by half a percentage point

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The Conversation

Why the Bank of England's interest rate hikes aren't slowing inflation enough and what that means for mortgages

Consumer price inflation stuck at 8.7% in May, defying expectations of a slowdown and making a further rise in UK interest rates inevitable.

The Week

Will interest rates come down again?

The Bank of England has increased its base interest rate from 4.5% to 5% in a bid to tame inflation. It is the 13th hike in row and the highest the rate has been for 15 years.

Evening Standard

OPINION - The Bank of England vs inflation: over-reacting or under-reacting?

My toxic character trait is that, whenever I find myself in a non-English speaking country (as I believe locals call their mother tongue) and I’m asked a question, I panic and reflexively default to French. This has gone on to cause a scene in Germany, Brazil and one time in…

The Guardian - UK

Hiking interest rates isn’t working. That leaves us all poorer – and Rishi Sunak carrying the can

Britain is facing a new economic era that will hurt those already struggling, and could radicalise even the previously comfortable, says Guardian columnist Gaby Hinsliff

Barchart

Stocks Move Higher Despite Central Bank Rate Hikes

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.16%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.16%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.65%. U.S. stocks have overcome early losses and are trading...

The Independent UK

What does the Bank of England rate hike mean for the housing market?

The Bank has pushed the base rate up to 5%, the highest it has been in nearly 15 years.

Barchart

Markets Today: Stocks Fall on Overseas Rate Hikes

Morning Markets September E-Mini S&P 500 futures (ESU2 3) this morning are down -0.22%, and Sep Nasdaq 100 E-Mini futures (NQU2 3) are down -0.24%. U.S. stock index futures are trading lower after the Bank of England today surprised the markets with a +50 bp rate hike to 5.00% to...

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