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The Latest Breaking News from Interest Rates

LONDON: The Bank of England raised interest rates to 3% on Thursday from 2.25%, its biggest rate rise since 1989, but it pushed back against expectations for further steep hikes, saying Britain faces a painful recession that could last two years.

Bangkok Post

Martin Lewis issues new warning to everyone with a mortgage or savings account after interest rates rise

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

Daily Record

Households ‘face double whammy of soaring interest rates and sky-high inflation’

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

The Independent UK

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With interest rates at 3% and fears of longest recession in 100 years, PM urged to get business basics right

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

Birmingham Post

UK faces longest recession since records began, Bank of England warns

Interest rates have been hiked for the eighth time in a row

Manchester Evening News

The Standard View: Higher interest rates, spending cuts and tax rises leave the economy on the brink

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.

Evening Standard

Interest rates: Starmer warns of ‘Tory premium on mortgages’ OLD

Chancellor Jeremy Hunt confirms more pain to come in autumn statement

The Independent UK

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Slightly fewer Americans apply for jobless aid last week

Applications for jobless benefits fell slightly last week with the U.S. job market remaining resilient in the face of rising interest rates and persistent inflation

The Independent UK

UK is heading for longest recession in a century, Bank of England warns

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

Daily Mirror

Bank of England signals interest rates probably won’t go much higher

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

The Guardian - UK

UK could be facing longest recession since records began as interest rates go up

Homeowners are set to face the biggest single shock on their mortgage bills since the 1980s as the Bank of England hiked interest rates for the eighth time in a row. The Bank’s base rate will rise to 3% from 2.25%, its highest for 14 years

Wales Online

Grim recession warning and mortgage misery after Bank of England interest rate rise

Biggest interest rate hike in decades hits homeowners as Bank of England warns of longest recession on record

Evening Standard

Bank of England hikes interest rates to 3 percent - here is what it means for your mortgage

It is likely to impact millions of homeowners across the UK

Manchester Evening News

Bank of England raises interest rates to 3%

Central bank also warns that the UK could be on course for its longest recession since reliable records began a century ago

Insider UK

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Wales Online

How interest rates rise will affect you as Bank of England hikes rate to 3%

Thursday's increase is the biggest single rise in 33 years and it could have major implications for mortgage holders

Birmingham Post

Interest rates up to 3% as Bank of England bids to tackle cost of living crisis and warns of long recession

Rise from 2.25% to 3% had been widely expected and is biggest since 1980s

Daily Record

Scots face mortgage spike as biggest interest rate rise since 1980s announced

The Bank warned the UK could be on course for the longest recession since reliable records began in the 1920s.

Daily Mirror

How high could interest rates go after hitting 3% today - and why they're rising

The Bank of England has today hiked interest rates to 3% - but will interest rates keep rising? Market analysts suggest they will - but predictions have been scaled back in recent days

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The Guardian - UK

Bank of England warns of longest recession since the 1930s

Interest rate rise to 3% is biggest since 1989 and fears UK economy may go into longer, deeper recession

Daily Mirror

Interest rates hit 3% in biggest rise in 30 years - what it means for your money

The Bank of England has hiked interest rates to 3% - but what exactly does it mean for your mortgages, debts and savings? We explain everything you need to know

The Guardian - UK

First Thing: Biden urges Americans to take a stand against political violence

President asks voters to reject election-denying candidates in midterms to ‘preserve democracy’. Plus, can Twitter survive Elon Musk?

Manchester Evening News

What time is the Bank of England interest rate announcement today?

The biggest interest rate rise in 33 years is expected to be confirmed

Bangkok Post

Cracks in Vietnam rattle investors

Financial markets in Vietnam, Asia’s fastest-growing economy, are in an unsettling slide as a crackdown on property lending, a falling currency and rising interest rates heap pressure on banks and rattle confidence.

The Independent UK

Interest rates: What are they and how does a rise affect you?

Bank of England implements biggest hike in more than 30 years

The Guardian - UK

UK in ‘prolonged recession’ as Bank of England hikes interest rates to 3%, knocking pound – as it happened

Bank of England has made its biggest interest rate rise in three decades, but signals rates won’t rise as high as markets had expected

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