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

First-time buyers have been hardest hit by mortgage rate increases

Soaring inflation and eroding confidence blamed for latest slide

The Bank of Scotland Business Activity Index also blamed high inflation for the fall in October.

With Rishi Sunak enjoying no honeymoon poll bounce and the financial hell released likely to cement public hostility to the latest unelected Prime Minister’s austerity regime, Labour could afford to be bold

The Bank of England increased the base rate to the highest level in 14 years

Government sources said discussions are underway within the department about what level of support will be available from April, when the current price guarantee expires, according to the Guardian.

The allowance for all departments, including the Ministry of Defence, will rise in line with the 2021 spending review, according to reports.

Another three months of falling growth would mean a recession, with the Bank of England warning it could be the longest downturn for a century

Chancellor warns of ‘eye-watering’ decisions to come

Today’s figures confirm what the forecasters and the Bank of England have already predicted: the British economy is shrinking. GDP contracted by 0.2 per cent between July and September, as spiralling prices and energy bills impacted households and businesses.

We round up all six of the biggest financial announcements and changes expected over the next few months, including when interest rates and inflation will rise again and what to expect in the Autumn Statement