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

The Bank of England’s base rate has risen from 2.25% to 3%, its highest in 14 years.

A ‘toxic mix’ of high prices, falling real incomes, and soaring borrowing costs is battering household finances, experts said.

Chamber boss: 'Investment intentions... are lagging significantly due to the low confidence affecting many firms right now'

When it rains, it pours. Estate agent Savills predicts that the mainstream London housing market will suffer the most acute fall in prices out of all regions in 2023. That’s despite properties in the city enjoying the more modest end of price growth since the pandemic.

The TUC has called for a new economic plan.

Britain is heading for its longest recession in modern history with no recovery until summer 2024 the Bank of England warned on Thursday.

Since December last year, the average monthly tracker mortgage payment has increased by around £3,410 per year, according to UK Finance figures.

The Bank of England issued a gloomy warning about the future of the British economy as it hiked interest rates to 3%, the biggest single rate rise in three decades

Central bank felt the need to massage down interest rate expectations amid fears over impact on UK economy

Bank hikes rates for eighth consecutive time putting futher squeeze on cost of living crisis

Sterling drops 1.4% against US dollar after decision-makers warn of longest recession on record