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The Latest Breaking News from Bank of England

Stocks Waver, Oil Prices Fall on Recession Fears

Stock markets wobbled and oil prices sank on Friday amid growing fears that inflation-fighting interest rate hikes by central banks could trigger recession. Investors were shaken this week after the US Federal Reserve unleashed its biggest hike in borrowing costs for almost 30 years to tackle red-hot consumer prices, AFP…

Asharq Al-Awsat

High street lenders increase mortgage rates by more than Bank of England

Borrowers are seeing their costs rise but savings rates remain low

The Independent UK

Fight against inflation raises spectre of global recession

Analysis: Interest rate cuts show central banks willing to plunge economies into recession to halt price rises

The Guardian - UK

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Bank of England ready to take ‘forceful’ action on inflation, says chief economist

Central bank on high alert to raise interest rates more aggressively if needed, says Huw Pill

The Guardian - UK

Is a major recession unavoidable? Three economists give their views

We are in a double bind right now. Prices are going through the roof but all the signs suggest that the economy is weakening. The answer to higher prices is normally to raise interest rates, but this also induces people and firms to spend less money. The challenge for central…

The Conversation

Londoners face biggest mortgage hit after interest rate rise

London homeowners will be hardest hit by this week’s rise in interest rates, according to new research released on Friday.

Evening Standard

HSBC, Nationwide, Santander and more confirm when mortgages will go up

Those on a tracker rate mortgage will see their interest rates go up automatically - high street banks have started to confirm the dates when customers will be hit with higher costs

Glasgow Live

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The latest Bank of England rate rise won't do much to tackle inflation - here's what could work

There wasn’t much dramatic tension as markets waited for the Bank of England’s latest decision on interest rates. The fifth monthly quarter-point hike in a row was largely expected, taking the base rate to 1.25% in June 2022. All the announcement really revealed, in fact, was what a mess UK…

The Conversation

Mortgage rate rise options for homeowners after Bank of England decision

Millions of people are facing higher repayments after the base rate rose once again

Nottingham Post

Barclays, Santander and other banks confirm when mortgage interest rates will go up

Millions of homeowners are set to be affected by the rise

Nottingham Post

Martin Lewis issues urgent energy bill warning to every household over tariff fixes ahead of next price cap

The clock is ticking if you want to reduce the impact of the next hike.

Daily Record

Northern Tories tell Boris Johnson to cut taxes or risk an election wipeout

Influential backbencher Jake Berry said parties that fail to listen to their voters face 'political annihilation' as he calls on the PM to lower taxes

Daily Mirror

Santander, TSB and more banks deliver update on when mortgages will go up after rate rise

The Bank of England (BoE) yesterday confirmed it has upped its base rate from 1% to 1.25% in a move that affects around two million homeowners. It means those on a tracker mortgage and most SVR deals will see their mortgage go up

Daily Mirror

London businesses ‘overwhelmed’ by soaring costs and staff shortages as ministers urged to cut taxes

The London Chamber of Commerce and Industry is demanding action from the Government to protect its members

Evening Standard

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The Guardian - UK

Global stock markets head for steepest weekly fall since 2020 as recession fears rise – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Profiteering bosses, not workers, are pushing up inflation. Here’s how to fight back

Unite’s leader, Sharon Graham, is leading the charge against 21st-century corporations. Why isn’t Labour following suit, asks Guardian columnist Aditya Chakrabortty

Liverpool Echo

All you need to know about UK's interest rate hike, and what it means for you

Borrowers will see increases to their mortgages and could see hikes to overdraft and credit card rates

The Guardian - AU

Stock markets plunge again as flurry of interest rate hikes fuels recession fears

Investors wary as other central banks follow US Federal Reserve in raising borrowing costs

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Daily Mirror

Brits warned UK 'may already be in recession' as inflation could climb to 11%

Experts have warned that Britain may be sliding into a recession as inflation continues to soar and the Bank of England is forced to raise interest rates for the fifth time

Wales Online

No tax cuts in England before inflation is tamed, ministers suggest

Rishi Sunak and Michael Gove appeared to indicate that fellow Conservative MPs pushing for tax cuts would have to wait as such measures could fuel runaway inflation

Daily Mirror

Interest rate rise - all you need to know including impact on mortgage payments

Today's interest rates increase is expected to add around £21 a month - £252 a year - to the average repayments for a borrower with a £150,000 mortgage who is on their lender’s standard variable rate

Nottingham Post

Chancellor Rishi Sunak's message of 'reassurance' to Nottingham over cost of living crisis

'This is important for your readers - I really want them to be reassured that we will get inflation back under control'

Evening Standard

Mortgage repayments get more expensive overnight as Bank of England raises interest rates

Putting yet more pressure on households struggling with the cost of living, mortgages are getting progressively more expensive

Daily Mirror

Economists blast Boris Johnson for 'suppressing' Brits' wages as inflation soars

Economists from a host of universities and think tanks have written to the Prime Minister dismissing his claims over pay hikes fuelling inflation

Daily Mirror

Summer of discontent as UK hit by new Covid wave, strike chaos and rising prices

The threat of the biggest industrial action to hit Britain since 1926 is looming amid a record wave of energy price hikes which has stoked fears echoing those during the 1978-79 'winter of discontent'

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