The Latest Breaking News from Interest Rates

The major banks are deeply divided about the outlook for interest rates, and the difference is worth about $284 a month to a typical recent home buyer. So who will be right?

Although it certainly feels like it, and many people believe it, we are not in a recession yet. While a recession is defined as two successive quarters of negative GDP growth, it is essentially a period where economic growth falls significantly and unemployment rates rise.

Consumer rights expert Martyn James explains everything you need to do if you can't afford your bills after the Bank of England raised interest rates from 1.25% to 1.75%

As a rise in interest rates will lower home purchasing power, SET-listed developer Sena Development Plc plans to lower the prices of residential units and offer a leasing programme to help homebuyers own a unit more easily.

A complete banker refused to apologise for lowering interest rates to lure first-time buyers. "They'll soon be first-time sellers! At half the price."

Soaring prices have forced central banks in many developed countries to raise their interest rates in recent weeks. These organisations are in charge of attempts to rein in rising costs that are threatening to wreak havoc on household budgets in coming months.

You might have noticed the occasional headline about interest rates soaring, the Reserve Bank threatening to smash the economy, and the end of civilisation.

Bank of England’s dire new forecast sparks recession fears

House prices fell marginally in July, according to the Halifax House Price Index