The Latest Breaking News from Interest Rates

Professor Richard Murphy, political economist and chartered accountant, says increasing interest costs will force hundreds of thousands (if not millions) of UK households into poverty

Homeowners are set to face higher mortgage bills as the Bank of England imposes biggest interest rate hike since 1989

The Bank of England’s base rate has risen from 2.25% to 3%, its highest in 14 years.

A ‘toxic mix’ of high prices, falling real incomes, and soaring borrowing costs is battering household finances, experts said.

Chamber boss: 'Investment intentions... are lagging significantly due to the low confidence affecting many firms right now'

Interest rates have been hiked for the eighth time in a row

When it rains, it pours. Estate agent Savills predicts that the mainstream London housing market will suffer the most acute fall in prices out of all regions in 2023. That’s despite properties in the city enjoying the more modest end of price growth since the pandemic.

Chancellor Jeremy Hunt confirms more pain to come in autumn statement

Applications for jobless benefits fell slightly last week with the U.S. job market remaining resilient in the face of rising interest rates and persistent inflation