The Latest Breaking News from Interest Rates

AN economist has warned the UK is facing “heightened recession risks” after the private sector suffered a shock downturn in August.

A year ago, Chair Jerome Powell warned that to fight high inflation, the Federal Reserve would continue to sharply raise interest rates, bringing “some pain” in the form of job losses and weaker economic growth

Swedish fintech Klarna is booming in Europe as shoppers turn to Buy Now, Pay Later products amid inflationary pressure and high interest rates.

The mortgage lender said soaring interest rates are offsetting the benefits of falling house prices and strong wage growth.

The new reality of 'higher for longer' interest rates has 10-year Treasury bond yields trading at levels last seen in 2007, with stocks fighting for gains in a tough August climate.

Chancellor says government must not alter course as interest rate rises add to cost of debt

From chip shops to tech start-ups, and even large, well-established companies, rising interest rates have had an impact right across the business world. After 14 consecutive base rate hikes by the Bank of England since 2021, this is causing particular problems for companies with a lot of debt.

Some Latin American countries are even cutting interest rates, and more central banks could follow in 2024.

"This is temporary. They paused and continued to cull their portfolio as they always have."

How to loosen the mortgage belt - even when interest rates are going up.

Credit card use amps up as consumers reckon with inflation and higher interest rates; 39% of Americans living paycheck-to-paycheck, study shows.