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The Latest Breaking News from Interest Rates

Mortgage affordability shake-up confirmed for buyers - what it means for you explained

The Bank of England has confirmed it is pushing ahead with scrapping a mortgage affordability test - despite interest rates climbing and fears that it could push house prices higher

Daily Mirror

High inflation to persist for ‘some years’, warns Reserve Bank boss

The governor of the Reserve Bank has warned high inflation is likely to persist for years to come as the global economy works through major supply issues.

The New Daily

Where did the RBA find evidence of wage growth?

The Reserve Bank of Australia is facing a federal government review, and we found one good reason for it: Wages growth data has come from a source that an expert called not "statistically valid".

ABC News

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The RBA's pre-COVID failure to cut interest rates faster may have cost as much as 270,000 jobs

The Reserve Bank of Australia is about to be put under the microscope in the first major review of its performance in at least 30 years, and perhaps forever.

The Conversation

Buy now, pay later companies on the brink as bad debts and interest rates rise

Buy now, pay later is a popular payment method, but the sector is facing a perfect storm of rising interest rates, bad debts, a crowded marketplace and looming regulation.

ABC News

Time to Sell These Downgraded Stocks?

The stock market faced a brutal sell-off last week on concerns over the increasing odds of a recession because of the aggressive tightening of monetary policy. The Fed raised interest rates by 75 basis points and expects a further 50 or 75 basis points increase in its July meeting. Amid…

StockNews.com

Bank policymaker calls for faster rate rises to prevent weak pound fuelling inflation

Catherine Mann says Bank of England’s MPC is in danger of falling behind rival central banks

The Guardian - UK

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Recession not on horizon, says RBA's Lowe

Reserve Bank governor Philip Lowe says a recession in Australia is not on his horizon, but after the past two years nothing can ever be ruled out.

AAP

Mortgage affordabilty tests: Bank of England abandons ‘stress test’ recommendation for mortgage approvals

The change could help some borrowers get loans but strict loan-to-income limits remain in place

Evening Standard

House price falls won't help affordability

Falling house prices won't help housing affordability because interest rates are on the rise, global credit agency Moody's Investors Service has warned.

AAP

GSB vows steady interest rates

The state-run Government Savings Bank (GSB) will try to maintain its interest rates for as long as possible amid a rising global trend in order to alleviate the burden on its borrowers, says bank president Vitai Ratanakorn.

Bangkok Post

Petrol back above $2 despite excise cut

Petrol prices are back at levels seen when former treasurer Josh Frydenberg halved fuel excise for six months in the March budget.

AAP

Crypto billionaire says Fed is driving current downturn

FTX CEO Sam Bankman-Fried says that, until investors get used to higher interest rates, risk assets, including cryptocurrency, won't recover.

WEKU

Australian agricultural land tipped to hold its value amid economic downturn

With whispers of a recession, interest rate hikes, and inflation, many in agriculture believe rural land will hold its value through the tough economic times ahead.

ABC News

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Benzinga

S&P 500 Set For Worst Week Since March 2020 As Fed Gets More Aggressive With Rate Hikes

The SPDR S&P 500 ETF Trust (NSYE: SPY) dropped sharply this week as investors priced in the Federal Reserve's more aggressive approach to raising interest rates.

The Guardian - UK

Bank of England ready to take ‘forceful’ action on inflation, says chief economist

Central bank on high alert to raise interest rates more aggressively if needed, says Huw Pill

The Conversation

Is a major recession unavoidable? Three economists give their views

We are in a double bind right now. Prices are going through the roof but all the signs suggest that the economy is weakening. The answer to higher prices is normally to raise interest rates, but this also induces people and firms to spend less money. The challenge for central…

Evening Standard

Londoners face biggest mortgage hit after interest rate rise

London homeowners will be hardest hit by this week’s rise in interest rates, according to new research released on Friday.

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Glasgow Live

HSBC, Nationwide, Santander and more confirm when mortgages will go up

Those on a tracker rate mortgage will see their interest rates go up automatically - high street banks have started to confirm the dates when customers will be hit with higher costs

The Conversation

The latest Bank of England rate rise won't do much to tackle inflation - here's what could work

There wasn’t much dramatic tension as markets waited for the Bank of England’s latest decision on interest rates. The fifth monthly quarter-point hike in a row was largely expected, taking the base rate to 1.25% in June 2022. All the announcement really revealed, in fact, was what a mess UK…

Nottingham Post

Barclays, Santander and other banks confirm when mortgage interest rates will go up

Millions of homeowners are set to be affected by the rise

Benzinga

US Stock Futures Higher Following Thursday's Sell-Off

Pre-open movers U.S. stock futures traded higher in early pre-market trade after the Dow Jones dipped more than 700 in the previous session. The Federal Reserve raised interest rates by 0.75% on Wednesday.

WEKU

Why cryptocurrencies have gone from the next hot thing to a full-on meltdown

Bitcoin and other cryptocurrencies are plunging. Here's what to know about a market that just a few months ago was being touted as the future of finance.

Liverpool Echo

All you need to know about UK's interest rate hike, and what it means for you

Borrowers will see increases to their mortgages and could see hikes to overdraft and credit card rates

The Guardian - AU

Stock markets plunge again as flurry of interest rate hikes fuels recession fears

Investors wary as other central banks follow US Federal Reserve in raising borrowing costs

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