A new UK Finance report has highlighted that many households are facing substantial financial stress due to their fixed-rate mortgage deals ending this year. Officials said that soaring inflation and interest rate increases could see many homes experiencing a significant drop in disposable income…

There have been shockwaves among economists after the Hungarian central bank hiked interest rates way beyond industry experts’ expectations. The National Bank of Hungary (NBH) increased the country’s base interest rate by a startling 185 basis points, taking it to 7.75%. This comes as the Hungarian…

The Governor of the Bank of England, Andrew Bailey, has stated that the central bank is prepared to act more forcefully to tackle soaring inflation. While there has already been a series of interest rate hikes since December 2021, Bailey claims policymakers ‘have the option’ of taking more forceful…

Norway’s central bank has announced its most significant interest rate hike since 2002, with rates rising to 1.25% from the previous 0.75% level. Economists expected a 0.25% increase; however, the Norges Bank Monetary Policy and Financial Stability Committee voted for the 0.5% rate increase. The…

A new report has shown that recent interest rate hikes in the UK are now being reflected in consumer credit card and loan rates. The data comes from Moneyfacts.co.uk, which shows that interest rates on these types of borrowing have increased as households continue to struggle financially. According…

In a surprising move, the governor of the Reserve Bank of Australia (RBA) has made a vow concerning interest rates. The promise from the RBA governor, Philip Lowe, comes as Australian households prepare themselves for another rate hike in the coming days. Households across the country are already…

UK inflation hit another 40-year high of 9.1% in the 12 months to May. Food, energy and fuel prices continue to rise, with the inflation rate rising slightly from April’s 9% figure. Rapid food price increases, in particular, are being largely attributed to the war in Ukraine. Both Russia and Ukraine…

When you look at the long-term and short-term Bank of England base rate graphs, it is akin to night and day. Since the 2008 US mortgage crisis (and the more recent pandemic), the Bank of England has been under massive pressure to maintain historically low rates to support the economy. There was also…

Those looking to acquire a home will notice that the mortgage interest rate is always higher than the bank rate. However, the difference between the mortgage interest rate and the bank rate (often referred to as the base rate) will vary in different situations. So, why is my mortgage interest rate…

With the European Central Bank set to increase interest rates in response to rocketing inflation, many lower-income families could be left facing significant issues. Recent reports have indicated that the European Central Bank is gearing up to increase interest rates, a shock to many who have become…

A recent analysis of central banking data by the Financial Times suggests we’ll see continuing, widespread interest rate hikes in the coming months. According to the data, central banks worldwide are increasing rates rapidly, which is in stark contrast to the stance they have generally been taking…

There is set to be significant turbulence in Australia, with homebuyers and banks facing huge risks as interest rates and inflation spike. The warning comes from the industry regulator, with Wayne Byres from the Australian Prudential Regulation Authority (APRA) recently stating that the next few…

According to recent figures released by the Nationwide Building Society, house prices across the UK are still increasing despite higher interest rates. The data shows that house prices were 11.2% higher on a year-on-year basis in May. However, Nationwide’s House Price Index pointed out that the…

The Bank of England has increased interest rates four times in the past six months. Rates rose from 0.1% in December 2021 to 1% just six months later, and investors fully expect rates to continue increasing, and they could reach 2.5% within a year. The interest rate increases come in the face of…

Fears of continued interest rate rises have fuelled a growing volume of searches for 10-year fixed-rate mortgages. Many home buyers and those looking to remortgage are now searching for deals that enable them to fix their rates for a decade as experts predict further interest rate hikes from the…

There was some good news for many Australian home loan borrowers this week, as it emerged that one of the big banking giants is offering eligible customers access to free internet. Home loan borrowers with Commonwealth Bank (CBA) struggling with interest rate increases could benefit from free…

The Reserve Bank of Australia (RBA) has hiked interest rates with the most significant increase in over two decades as it battles to restrain inflation. The central bank increased the base rate by 50 basis points, taking the rate to 0.85%. The move has surpassed predictions and expectations from…

Concerns have arisen that there could be a housing-led recession in Canada if interest rates continue to increase. Some experts believe there could be a rapid correction in the property market that could lead to a recession. The warning comes from an economist at Capital Economics after the Bank of…

Interest rates in the UK have risen to their highest level in 13 years after the Bank of England increased the base rate to 1%. However, many believe the bank will raise the base rate to a fresh 13-year high this week by increasing it to 1.25%. This comes after three members of the nine-person…

On Thursday, the Bank of England’s Monetary Policy Committee (MPC) will decide whether to increase its base rate further in light of rocketing inflation. The base rate has already increased to its highest level in 13 years, with incremental rises since December in a bid to tackle inflation. There is…

Senior economics reporter with CNBC, Steve Liesman, believes that the US Federal Reserve could be considering a significant interest rate hike of 75 basis points this week. This is something that markets have already been anticipating, and Liesman claims that it is something the Fed is giving…

Senior economics reporter with CNBC, Steve Liesman, believes that the US Federal Reserve could be considering a significant interest rate hike of 75 basis points this week. This is something that markets have already been anticipating, and Liesman claims that it is something the Fed is giving…

As interest rates continue to rise and the cost-of-living soars, figures show that UK mortgage arrears have increased to record levels. It is widely expected that the Bank of England will hike interest rates on Thursday. Many expect the Bank of England to raise rates by at least 25 basis…

The Bank of England yesterday confirmed another interest rate hike of 0.25%, taking the rate to a total of 1.25% after five successive increases since December 2021. The increase comes as inflation rates also continue to rise in the UK. The interest rate is now the highest level it’s been in 13…

The Bank of England has said it is ready to raise interest rates even higher should inflation continue to rise and stay elevated in the foreseeable future. This follows the 0.25% increase in interest rates announced by the Bank’s Monetary Policy Committee (MPC) last Thursday as it tries to combat…