As the Bank of England tightens the squeeze on borrowers yet
again, with a fifth interest rate rise in less than a year, many
papers see further pain ahead. The Times, Daily Mail and Financial Times all lead with the story, which also receives much comment.
The rise in rates gives the Telegraph the opportunity to indulge in
some Brown-bashing. Its leader column says Gordon Brown's decision as chancellor to borrow heavily to finance "extravagant" rises in public spending saddled the government with mountainous debts and fuelled a spending boom of epic proportions.
For the Guardian's business commentator Nils Pratley, stories from the consumer frontline suggest that past rates are already hurting, but this is not showing up in the statistics. "If the Bank is not already in overkill territory, it's close," he argues.
* This is an extract from Wrap, our digest of the daily papers
