Itjust Interest News Today

we start here in the uk, where the bank of england has raised the cost of borrowing to its highest level in 13 years. the quarter of a percentage point rise, to 1.25%, was less than some were expecting. but financial markets are now betting uk interest rates will have to rise a lot further from here, to get control over soaring inflation. the worry is, too steep a rise in borrowing costs could tip the economy into recession. and the warning signs are already there. our economics editor...

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Costs of credit cards, loans and mortgages was lifted again to a 13 year high with 1.25%. but as you can see from the charts, even at these post— financial crisis highs, it is still a rather low rate of interest by historic standards and this is why rates are going up and this is why rates are going up because inflation already at a a0 year high of 9% isntjust heading for double digits, another bank thinks it could hit 11% in autumn as energy prices and sterlings fall push inflation higher.—...