LIVE: FTSE and European markets rise amid forecast of UK recession

High interest rates are expected to cause a rise in UK insolvencies in 2024, with the number of quarterly insolvencies predicted to reach 7,000 per quarter on average, according to a report by business group CEBR.

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9/1/2023

UK on recession alert after big falls in factory output and house prices

Surging interest rates in the UK have led to a slump in factory output, the biggest annual drop in house prices since the global financial crisis, and signals of distress in different sectors of the economy, posing a dilemma for the Bank of England as it decides whether to raise interest rates further.

9/6/2023

Bank of England boss says interest rates close to peak

Bank of England Governor Andrew Bailey has stated that interest rates are close to their peak, but there may still be room for further increases, as the Bank aims to slow down inflation; however, the next decision on interest rates will depend on the latest evidence.

9/12/2023

UK Mortgage Debt Soars to 6-Year High as Rising Rates Strain Borrowers

The value of UK mortgage arrears has increased by almost a third in April-June compared to the same period last year, reaching its highest level since 2016, due to rising mortgage costs caused by multiple interest rate hikes by the Bank of England. While some experts predict a rise in defaults, others argue that the number of people unable to repay their mortgages remains relatively low.

9/13/2023

Experts Predict Savings Account Rates to Hold Steady in 2023 Before Potential Decreases in 2024

Many experts predict that savings account interest rates will remain steady in 2023 but could start dropping in 2024.

9/14/2023

ECB Raises Interest Rates Again in Ongoing Fight Against High Inflation

The European Central Bank has implemented its 10th consecutive interest rate increase in an attempt to combat high inflation, although there are concerns that higher borrowing costs could lead to a recession; however, the increase may have a negative impact on consumer and business spending, particularly in the real estate market.

9/14/2023

ECB Raises Interest Rates to 4% in Latest Move to Combat High Inflation

The European Central Bank (ECB) has raised interest rates to a record high of 4% in an attempt to combat rising inflation, but suggests that this increase could be the last for the time being. The ECB expects inflation to fall in the coming years, but acknowledges that higher rates have impacted economic growth projections for the eurozone.

9/14/2023

UK Interest Rates Set to Hit 15-Year High as BoE Battles Inflation

The Bank of England (BoE) is expected to raise its main interest rate by 25 basis points to its highest level in more than 15 years, as inflation in Britain remains above target and economists see room for further tightening.

9/14/2023

Mortgage Rates Expected to Fall to 5% by 2025 As Fed Battles Inflation

Experts predict that mortgage interest rates will likely drop over the next year and reach around 5% by the end of 2024 or the beginning of 2025.

9/17/2023

Bank of England Faces Dilemma on Rates as Economy Slows But Inflation Stays High

The Bank of England is expected to raise interest rates to 5.5%, potentially marking the end of its tightening cycle, as concerns about a cooling economy grow among policymakers.

9/22/2023

Bank of England Halts Rate Rises as Housing Markets Slow, Eurozone Inflation Still High

The Bank of England has decided to halt interest rate rises due to unexpected inflation slowdown, while housing markets in major global economies, including the US, Germany, and the UK, are showing signs of slowing down. Additionally, there have been developments in various countries' economic outlooks and key interest rates.