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The Latest Breaking News from Interest Rates

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...

Barchart

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…

Evening Standard

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.

Axios

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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.

Daily Record

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

Evening Standard

Interest rate hikes could see 1.4million Brits lose 20% of disposable income

The Bank of England is expected to raise the base rate - which influences interest rates lenders charge for mortgages, loans and other types of credit - again tomorrow in an effort to curb inflation

Daily Mirror

London house market faces ‘slowdown’ as Bank of England risks overdoing rate rises says Berkeley boss

Rob Perrins, one of the longest-serving CEOs on the FTSE 100, does not expect house prices to fall

Evening Standard

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Bank of England could spring interest rate ‘jumbo hike’ today amid wage-price spiral fears

With inflation stuck at 8.7%, economists said a jump straight to 5% interest rates might be needed

Evening Standard

Will Rishi Sunak meet his December deadline to halve UK inflation?

As Bank raises interest rates again and big business greedflation pushes prices higher, the PM’s vow is a gamble

The Guardian - UK

Martin Lewis warns mortgage ‘ticking time bomb’ is now exploding with no rescue package on the way

The consumer champion is keen to see ‘soft or hard political pressure’ put on banks to make things better for mortgage holders.

Daily Record

What does a change in inflation mean for your family?

Inflation is hitting the news again, but what does the latest change mean for your family and your money

GoodToKnow

There’s only one way to tackle Britain’s mortgage meltdown – get the banks to cough up

The big five owe the public for the 2008 bailout – and they are taking in enormous profits while many homeowners and renters struggle, says former chancellor John McDonnell

The Guardian - UK

How much your mortgage will rise by if Bank of England hikes interest rates today

Some analysts expect the base rate to rise by 0.25 percentage points to 4.75% with others predicting an even bigger increase to 5% - so how much would your mortgage rise by?

Daily Mirror

Inflation for May remains high at 8.7% putting more pressure on household finances this summer

Economy experts had expected inflation to fall last month to 8.4%.

Daily Record

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The National (Scotland)

Inflation unchanged in May, heaping further pressure on households

he pressure on households from the rising cost of living did not ease last month, new figures have revealed, as inflation remained higher than…

The Independent UK

Inflation news – live: Fears of ‘shock-and-awe’ Bank of England hike as mortgage rates climb

Markets brace for Bank of England rate hike of 0.5 per cent, as cost of government borrowing also hits new 15-year high

The Guardian - UK

Bank poised to hike interest rates as inflation remains unchanged at 8.7%

OONS figures show stabilising energy prices were offset by rises in cost of air fares, holidays and secondhand cars

The Guardian - UK

Wednesday briefing: How to solve the UK’s mortgage mess, as interest rates rise again

In today’s newsletter: Rising inflation and interest rates mean real pain for homeowners – with few signs of relief on the way

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The Independent UK

Inflation remains frozen on 8.7 per cent ahead of Bank decision on interest rates

ONS says freeze caused by rising prices for plane tickets, recreational and cultural goods and services and second-hand cars

Daily Mirror

UK inflation unchanged at 8.7% but prices still rising - what it means for your money

Experts had predicted inflation would fall to 8.4%, heaping pressure on the Bank of England when it announces its latest interest rates decision tomorrow (June 22)

Evening Standard

UK inflation stuck at 8.7% in another cost-of-living shock

The higher-than-expected figure likely means more interest rate rises

The Guardian - UK

Bank of England must ‘create recession’ to fight high inflation, Hunt advisor says, as mortgage rates rise again – as it happened

Member of Jeremy Hunt’s economic advisory council says BoE must create “uncertainty and frailty”, after UK headline inflation was unchanged at 8.7% in May

Zenger

Powell To Face Congress Amid Criticism Over Fed’s Policy Stance

Questions on interest rates, banking regulation, and inflation to be raised during Powell's testimony.

The New Daily

Michael Pascoe: Speech shows RBA clueless on employment

You can rely on the Reserve Bank to miss or downplay a major factor or two when it strays into what’s actually happening in Australia.

Bristol Post

Mortgage-holders say they worry they 'simply won't have any more money'

Soaring interest rates have seen people with mortgages facing big rises in their repayments

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