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The Latest Breaking News from The Bank of England

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

The Guardian - UK

Inflation stagnates at 8.7 per cent as figure is unchanged in latest update

It had been expected to fall slightly

Wales Online

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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

The Independent UK

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)

Daily Mirror

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

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

Evening Standard

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

The Guardian - UK

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Tory MPs split on whether to intervene to help mortgage holders

Figures released on Wednesday expected to confirm UK stuck with highest inflation rate in G7

The Guardian - UK

Jeremy Hunt calls mortgage crisis summit as experts urge banks to help those struggling

Jeremy Hunt has summoned bosses from Britain’s leading banks to Downing Street to urge them to do more to support customers

The Independent UK

Martin Lewis says mortgage timebomb has 'exploded' and says Tories were warned

Moneysavingexpert.com founder Martin Lewis said he warned Jeremy Hunt about the threat from rising mortgage rates at a summit in December

Daily Mirror

Ian Murray vows Labour 'won't give Scotland another independence referendum'

SCOTTISH LABOUR MP Ian Murray has ruled out his party allowing the half of Scotland’s population that supports independence to “have their…

The National (Scotland)

Does raising interest rates help inflation and how does this affect mortgages?

THE average mortgage rate for a two-year fixed deal has risen to a figure that has not been seen since the market reeled from Liz Truss’s…

The National (Scotland)

Chancellor to meet lenders later this week over mortgage rates crunch

Jeremy Hunt told the House of Commons he would be asking what flexibilities might be possible.

The Independent UK

When will mortgage rates come down? Interest rate remains high after Bank of England update

The Bank has kept the base interest rate the same once again

Evening Standard

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The Independent UK

Michael Gove says 25-year fixed rates could ease mortgage crisis

Housing secretary suggests Canadian-type deals – as Sunak government under pressure to end ‘mortgage horror show’

The Independent UK

UK ‘hurtling into mortgage disaster’ as rates near highs seen during Truss turmoil

‘No one’s at the helm of the ship, we don’t know where we’re going to end up,’ warns one mortgage broker

The National (Scotland)

Average two-year fixed-rate mortgage tops six percent for first time in 2023

The average two-year fixed-rate homeowner mortgage on the market has topped 6 per cent for the first time this year.

The National (Scotland)

Westminster is 'hammering home owners and first time buyers', SNP say

The SNP have said Westminster is “hammering home owners and first time buyers” after the Bank of England raised interest rates.

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The Independent UK

Government urged to end ‘mortgage horror show’ as average two-year rate tops 6%

Calls for intervention were made as the average two-year fixed-rate mortgage deal topped 6% for the first time this year.

Evening Standard

No more bailouts so Andrew Bailey needs to delay interest rate rise

City comment: The best thing would be for the Bank of England to reverse-ferret and delay the pencilled-in rate rise

The Independent UK

Average two-year fixed-rate mortgage tops 6% for first time in 2023

The last time that the average two-year fixed-rate mortgage was 6% or higher was in December 2022, according to figures from Moneyfactscompare.co.uk.

Daily Mirror

Mortgage costs could rise by an average of £2,900 a year for 800,000 people

The Resolution Foundation predicts that the Bank of England's base interest rate could peak at nearly 6% by next year - currently, the base interest rate is 4.5%

Manchester Evening News

Government 'considering prioritising British citizens for social housing list'

There are currently more than one million people waiting for social housing

Evening Standard

Mortgage mayhem goes on as two-year rates cross 6% threshold

It comes as Rishi Sunak this morning signalled there will not be any extra help given to people struggling with mortgage payments

The Independent UK

‘This is going to sting’: What would a mortgage crisis mean for homeowners and renters?

Current rates of nearly 6 per cent causing equivalent ‘stress’ to double-digit rates of 1980s, Andy Gregory writes

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