The Latest Breaking News from Interest Rates

Policy Correspondent Jon Stone unpacks how unfunded tax cuts pulled the rug out from under the UK economy

Banks and building societies pull hundreds of deals in anticipation of further interest rate rises

If interest rates continue to climb and reach 6% next year, homeowners may have to pay thousands of pounds more on their mortgage

U.S. stocks look set to snap a five-session losing streak, as indicated by trading in the major index futures. Bargain hunting could generate some buying interest even as traders remain concerned about growth and interest rates.

The Tory policy of cutting taxes for the rich has caused a sharp drop in the value of the pound - and interest rates could rise as a result.

Homeowners have been warned they face paying almost £10,000 a year more on their mortgage if interest rates continue to climb and hit 6% next year - here is what to do next

The pound has hit a record low after sweeping tax cuts were announced by the chancellor on Friday. Here we explain some of the reasons behind the fall and how it affects households and businesses across the country

In today’s newsletter: The Guardian’s special correspondent Heather Stewart talks us through the best, worst and most likely result of another chaotic day in the money markets

In the US they call it ‘starving the beast’ – cut taxes and, as revenue decreases, you create irresistible pressure for austerity, says Adam Tooze, an economic historian at Columbia University

The Australian share market regains some ground, as the Dow Jones index enters a bear market, while the Bank of England says it will not hesitate to raise interest rates. The Australian dollar falls to the lowest since May 2020.

The SPDR S&P Bank ETF (NYSE: KBE) is down 18.6% year-to-date, only slightly outperforming the S&P 500 as a whole. Rising interest rates are typically good news for bank earnings, but the weakness in bank stocks as of late has been driven by concerns over a potential slowdown in the…