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The Latest Breaking News on Rates probably on hold but all eyes on RBA governor

What the papers say – August 4

‘Mortgage pain’ and a rooftop protest at the Prime Minister’s home dominate the front pages.

The Independent UK

Sunak under pressure as Bank signals rates will stay high for months

Tory MPs call for targeted tax cuts as Labour criticises 14th interest rate hike as ‘mortgage bombshell’

The Guardian - UK

The Guardian view on high interest rates: losing the race against time

Editorial: Britain’s 14th successive rise signals a grim 2024 for the economy and for Rishi Sunak’s government

The Guardian - UK

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When will interest rates fall? Experts warn of ‘more pain to swallow’ after latest hike

Mortgage rates could remain elevated ‘indefinitely’, analyst says

The Independent UK

How the Bank of England's interest rate hikes are filtering through to your finances

The Bank of England has increased interest rates to 5.25%, a level not seen since April 2008 and markedly higher than the all-time lows of 0.1% seen less than two years ago.

The Conversation

Interest rates rise to 5.25% for first time in 15 years

The Bank of England raised interest rates for the 14th time in a row today, by 0.25%. The Bank’s Monetary Policy Committee voted by a 6-3 majority in favour of the rate rise.

The Week

More pain in store – tough-talking Bank raises UK interest rates and a few eyebrows

Rise to 5.25% comes as no surprise but Bank of England’s language will frighten many

The Guardian - UK

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Bank of England says interest rates will remain high for at least two years

Policymakers vote for quarter-point rise to 5.25%, the 14th increase in a row, as Bank rules out prospect of recession

The Guardian - UK

Bank of England raises interest rates to new 15-year high of 5.25% in 14th consecutive hike

But the hike was smaller than the half-point ‘jumbo hike’ last month, signalling that Threadneedle Street is slowing down in its battle with inflation

Evening Standard

The Bank of England raises interest rates by 0.25 per cent to 15-year high

The Bank of England has raised UK interest rates to a fresh 15-year high - from 5 to 5.25.

The National (Scotland)

Bank of England hikes interest rates for 14th consecutive time despite inflation slowdown

Central bank raises interest rates to highest level since February 2008

The Independent UK

Bank of England set to join Fed in raising interest rates again amid high UK inflation

The Bank of England is set to raise interest rates for the 14th time in a row to a fresh 15-year high and keep the door open for further increases as it tries to tamp down persistently high inflation

The Independent UK

Bank of England poised to raise UK interest rates to 5.25%

Fears remain over stubborn inflation but slowing economy likely to fuel more cautious approach from rate-setters, say analysts

The Guardian - UK

Australian house prices look set to rise despite the rate hikes. This isn’t great given how expensive they already are

Existing mortgage holders are likely to be spared more interest rate rises after the latest RBA meeting, but first home buyers will find the task ever more difficult

The Guardian - AU

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Evening Standard

Times are tough, but the doomsters’ predictions have been wrong so far

City Comment: If you had believed the mainstream forecasters, we would already be in recession

The Independent UK

Sunak claims ‘light at end of tunnel’ on inflation as Bank of England set to raise rates again

His comments came as the Bank of England prepared to hike interest rates to the highest level since February 2008

Evening Standard

Bank of England set to raise interest rates above 5% today

The City braces for a hike of at least a quarter-point, taking base rates to their highest since 2008

The Guardian - UK

TUC urges Bank of England to halt ‘reckless’ interest rate increases

Unions say widespread job losses in recent months have left UK ‘teetering on the brink of recession’

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The Independent UK

Banks under fire as HSBC profits surge while borrowers are squeezed

The chair of the Treasury Committee said the latest figures show major lenders are not sufficiently passing on higher interest rates to savers

The Guardian - UK

UK recession fears swirl as factory output falls and house prices slide – as it happened

Nationwide reports average house prices fell 3.8% in year to July, biggest annual drop in 14 years, while manufacturers suffer worst month of 2023

The Guardian - AU

RBA interest rates: Australian borrowers given reprieve as Reserve Bank pauses again

The RBA has left the official cash rate on hold at 4.1%, the highest level since 2012, in line with investors’ expectations

The Guardian - AU

Economists split over chance of August rate rise as Australian property price rebound slows

Analysts differ over whether Reserve Bank will raise the cash rate another 25 basis points in the 13th increase since May 2022

Evening Standard

Rise in mortgage approvals offers hope for housing

“Write the housing market off at your peril,” one estate agent said

The Independent UK

UK interest rates to rise further but end of hiking cycle in sight

Most economists think Bank of England will raise bank rate by 0.25 percentage points on Thursday

The Guardian - UK

Mortgage rates ease as Bank of England’s bitter medicine shows signs of working

Fixed deals edge down as the City predicts that interest rates are nearing their peak and the UK economy cools

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