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

Interest rates hiked in June: RBA moves to 4.1 per cent amid fears about inflation plan

The Reserve Bank raised interest rates another 0.25 percentage points in June and has signaled more could be on the horizon.

The New Daily

RBA interest rates: Reserve Bank increases cash rate by 25 basis points in attempt to quash inflation

RBA decision to raise Australia’s cash rate by another 25 basis points brings the official rate to 4.1%, its highest level in 11 years

The Guardian - AU

Official interest rates rise above 4 per cent as RBA hikes again

Interest rates climb above 4 per cent for the first time in more than 11 years, as the Reserve Bank moves aggressively to clamp down on inflation.

ABC News

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New mortgage pain as lenders shake up deals

The surge in mortgage rates has come after inflation proved more ‘sticky’ than expected

Evening Standard

OPINION - Britain is the sick man of the West on inflation and now faces bitter medicine

First, the good news. Inflation is heading lower. US inflation peaked at 8.5 per cent late last year and is now running at around five per cent. Eurozone inflation peaked at 10.6 per cent and is now down to 6.1 per cent. UK inflation peaked at more than 11 per…

Evening Standard

White-knuckle wait for Tuesday’s latest RBA interest rate decision

Another close interest rate call is looming for the Reserve Bank amid persistent inflation and stagnant productivity growth

The New Daily

Ever higher interest rates won’t solve the problem of greedflation

Central banks seem blind to one of the real causes of inflation: profiteering under cover of Covid and the Ukraine war

The Guardian - UK

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'There is light at the end of the tunnel' for Scottish businesses

The boss of Scotland's largest mutual is positive that current economic challenges can be overcome

Insider UK

New account pays 9% interest as UK savers offered highest rates for more than a decade

Building societies offer rates over 7% – but deals have strings attached and are limited to existing members

The Guardian - UK

House prices fall at fastest annual rate since financial crisis

House prices decreased by 0.1% in the month of May alone

The Independent UK

Brexit was ‘historic economic error’, says ex-US Treasury chief

UK’s exit from EU helped fuel inflation crisis, says top US economist Larry Summers

The Independent UK

Why UK inflation is so high compared to EU and US and what to do about it

Britain has a bigger inflation problem than either the US or the eurozone, according to Bank of England policymaker Catherine Mann.

The Conversation

House prices falling at their fastest rate in nearly 14 years as buyers reel from higher interest rates

Buyers ‘spooked’ by threat of yet more interest rate rise pain on mortgages

Evening Standard

UK factories blame 16th month in a row of falling exports on Brexit barriers

Companies report trading with Europe is now more difficult as Larry Summers says exit from EU ‘contributed to higher inflation’

The Guardian - UK

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Chronicle Live

Martin Lewis' Money Saving Expert advises if you should fix your mortgage deal as 1.4million deals end

The most recent MSE newsletter claims that 1.4million mortgage deals will come to a close this year - leaving many homeowners to consider how a new interest rate hike could affect monthly repayments.

The Guardian - UK

UK and US poised to fall into recession as interest rates dampen growth

Moody’s report shows weak growth across G20 as central banks move to reduce persistent high inflation

Evening Standard

Six per cent interest rate warning in ‘bumpy’ battle to halve inflation this year

‘We are going to stay the course and get inflation down,’ Work and Pensions Secretary Mel Stride said

Evening Standard

Six per cent interest rate warning in ‘bumpy’ battle to halve inflation this year

‘We are going to stay the course and get inflation down,’ Work and Pensions Secretary Mel Stride said

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Daily Mirror

Martin Lewis' MSE website explains if you should fix your mortgage deal now

The recent Money Saving Expert (MSE) newsletter reported that 1.4million mortgage deals are coming to an end this year, so many will need to think about how the next interest rate rise could affect their mortgage payments

The Independent UK

Switch banks if you’re getting poor interest rate, cabinet minister Mel Stride says

Mel Stride said some of the ‘stickiness’ comes because there is ‘often inertia’ and that it is ‘relatively easy to change and switch accounts’

The Independent UK

People who get ‘poor’ bank rates should ‘shop around’, Cabinet minister says

Mel Stride said some of the ‘stickiness’ comes because there is ‘often inertia’ and that it is ‘relatively easy to change and switch accounts’.

Evening Standard

OPINION - The Standard View: A mortgage time bomb is poised to detonate over London

A mortgage timebomb is poised to detonate. Since the Bank of England raised interest rates from 0.1 per cent to 4.5 per cent, research by the Resolution Foundation think-tank suggests that just a third of mortgage holders have been impacted. But that will not last.

The Guardian - UK

UK banks shortchanging savers with ‘measly’ rates, says Which?

Some instant access accounts as low as 0.1% despite Bank of England’s 4.5% base interest rate

The Independent UK

Savers should ditch and switch if they are not satisfied with rates – Which?

The consumer group said become even more important to get better returns on savings accounts amid the living costs squeeze.

The Guardian - UK

Is it worth playing the waiting game in the hope of a better mortgage deal?

As costs rose yet again last week, with a warning to expect 5%-plus fixed rates, we look at the options for homebuyers

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