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

Tories accused of ‘losing control of the economy’ as figures show it shrinking faster and worst in G7

Revised figures show the UK is slipping even further from its pre-pandemic level

The Independent UK

Strikes reveal Britain is getting poorer – but we haven’t run out of money

Government borrowing surged to £22 billion last month due to higher debt interest and cost-of-living payments to households. This represents the largest monthly figure for November borrowing since records began in 1993.

Evening Standard

Things are only going to get worse in 2023, say seven out of ten Britons amid economic gloom

Seven in ten adults expect Britain’s general economic conditions to get worse in 2023, a new poll revealed on Wednesday.

Evening Standard

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TSB fined £48m over IT migration meltdown; UK house prices ‘could fall 5%’ in 2023 soft landing – as it happened

Nationwide says a ‘relatively soft landing’ in housing market is possible, while TSB is penalised for operational failings over botched move to new IT platform in 2018

The Guardian - UK

Reserve Bank warns of more interest rate rises and ‘large increases in rents’ amid inflation crisis

RBA’s final meeting minutes reveal concerns about higher spending over summer holidays without Covid restrictions

The Guardian - AU

Union fury over Labor decision to split aged care pay rises – as it happened

This blog is now closed

The Guardian - AU

All options on the table in 2023: RBA

The Reserve Bank of Australia has been careful not to lock itself into a set pathway for cash rate decisions in 2023.

AAP

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‘UK recession to last until end of next year’, say economists

THE UK economy is on track to shrink by 1.3 per cent in 2023 amid a recession which is set to last until the end of next year, according to a new…

The National (Scotland)

‘UK recession to last until end of next year’

Economists at KPMG have predicted that the UK has already entered a ‘shallow but protracted’ recession.

The Independent UK

Martin Lewis word of warning to homeowners after Bank of England announcement

The Bank of England announced on Thursday, December 15 they would increase interest rates by 0.5 per cent to 3.5 per cent - the ninth consecutive rise in 2022.

Nottingham Post

Australia's 2023 economic outlook unclear

There are a range of unknowns hanging over Australia's economic fortunes in 2023 but most agree a recession is unlikely.

AAP

UK house prices expected to fall by 8% next year, says Halifax

Lender says market rebalancing after years of growth, as mortgage rates and cost of living push prices down

The Guardian - UK

Why interest rates have gone up - and what impact it will have on households

Interest rates are at their highest point in 14 years after the ninth increase in a row by the Bank of England

Wales Online

Average long-term US mortgage rates inch down this week

The average long-term U.S. mortgage rate declined for the fifth straight week, even as the Federal Reserve just raised its key borrowing rate for the seventh time this year and signaled there were more to come in 2023

The Independent UK

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Daily Mirror

Seven reasons why higher mortgage rates affect EVERYONE - including renters to savers

As mortgage costs continue to rise, we explain why rising interest rates affects almost every person - not just homeowners - after another week for the UK economy

Irish Mirror

Leo Varadkar says 'no plans' for mortgage interest relief as rates set to rise

Leo Varakdar said that while the idea of introducing mortgage interest relief has not been 'ruled out', the Government has no plans to introduce measures

Chronicle Live

Interest rates increased to 3.5% by Bank of England in 14-year high to tackle inflation

The Bank has raised interest rates once again in a bid to meet its 2% inflation target, with figures this week showing that inflation is currently at 10.7%

Insider UK

Bank of England raises interest rates to new 14-year high

Warnings that further interest rate rises are likely in the coming months to stabilise the economy

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The Guardian - UK

Interest rates: UK borrowers are facing a serious reality check

Latest Bank of England rise offers little hope to generation of homebuyers weaned on ultra-cheap mortgages

Evening Standard

Bank of England raises interest rates to 3.5%

Thousands of London families were dealt a new cost of living blow on Thursday when the Bank of England ordered a 0.5 per cent rise in interest rates to a 14 year high of 3.5 per cent.

The National (Scotland)

Bank of England raises interest rates to highest level for 14 years

THE Bank of England has raised interest rates to their highest level for 14 years, putting further pressure on mortgage holders.

Wales Online

Mortgage payments up again as interest rates hiked to highest level in 14 years

The Bank of England has raised interest rates to 3.5% from 3%

The Independent UK

Bank of England raises interest rates to 3.5% despite inflation easing

Borrowers hit with higher costs as bankers signal UK not out of the woods yet

The Guardian - UK

Bank of England raises interest rates to 3.5% in ninth increase in a year

Majority of MPC rate-setters back hike of 0.5 percentage points despite fears UK is entering a long recession

Daily Mirror

Interest rates hiked to 3.5% in 14-year high - what it means for your money

The base rate - which was already at a 14-year high - has today been increased by 0.5 percentage points, up from 3% and the ninth time in a row the Bank of England has taken action

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