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The Latest Breaking News from MPC

Govt.’s pre-emptive measures will cool food prices: Finance Ministry

Finance Ministry says food inflation likely to be transitory due to govt pre-emptive measures & arrival of fresh crops. Govt has taken steps to restrain food inflation & imports of pulses to moderate inflation. RBI's MPC revised inflation projection to 5.4% & Govt capex driving growth. External sector needs monitoring…

The Hindu

What falling inflation means for your mortgage

Consumer Price Index falls 1.1 per cent in a month but core inflation remains stubbornly high, meaning further interest rate rise likely

The Independent UK

UK jobs market is cooling despite record pay growth

Risks of interest rate overkill rising fast even though wages grew strongly in last quarter

The Guardian - UK

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UK basic wage growth hits record high; Russia’s central bank lifts rates to 12% – as it happened

UK regular pay growth highest since 2001 while unemployment rate rises unexpectedly; rouble recovers afters Bank of Russia raises rates at extraordinary meeting

The Guardian - UK

Another interest rate rise? News on prices and wages may decide

The MPC will look at this week’s earnings and inflation figures, but energy volatility could also come into play

The Guardian - UK

Risky recourse: On the Reserve Bank of India’s Monetary Policy Committee and policy rate

How quickly policymakers intercede in the months aheasd will determine their inflation-fighting mettle

The Hindu

RBI’s MPC keeps policy rate unchanged, CPI inflation projection for FY24 revised to 5.4%

Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) unanimously decided to keep the rate unchanged at 6.5%

The Hindu

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More pain in store – tough-talking Bank raises UK interest rates and a few eyebrows

Rise to 5.25% comes as no surprise but Bank of England’s language will frighten many

The Guardian - UK

Bank of England says interest rates will remain high for at least two years

Policymakers vote for quarter-point rise to 5.25%, the 14th increase in a row, as Bank rules out prospect of recession

The Guardian - UK

Bank of England raises interest rates to new 15-year high of 5.25% in 14th consecutive hike

But the hike was smaller than the half-point ‘jumbo hike’ last month, signalling that Threadneedle Street is slowing down in its battle with inflation

Evening Standard

The Bank of England raises interest rates by 0.25 per cent to 15-year high

The Bank of England has raised UK interest rates to a fresh 15-year high - from 5 to 5.25.

The National (Scotland)

Bank of England poised to raise UK interest rates to 5.25%

Fears remain over stubborn inflation but slowing economy likely to fuel more cautious approach from rate-setters, say analysts

The Guardian - UK

Washington Takes Aim at Credit Card Processing Fees

Visa and Mastercard network fees are ‘part of problem’ as consumers face rising prices, lawmakers say.

Kiplinger

UK interest rates likely to rise again despite slowing labour market

Rising unemployment and slowing jobs growth will not counteract strong pay pressure

The Guardian - UK

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The Guardian - UK

Is Rishi Sunak picking the right targets in his anti-inflation battle?

After asking borrowers to hold their nerve, the prime minister now seems to be preparing to further squeeze public sector workers

The Independent UK

Voices: Inside the UK mortgage crisis and how interest rate rises will affect you

As Rishi Sunak and Jeremy Hunt rule out direct financial help for borrowers, here’s what the interest rate leap means for you.

Evening Standard

Rishi Sunak facing wrath of mortgage holders as 9 out of 10 ‘dissatisfied with Government’

EXCLUSIVE: Tories fall further behind Labour amid mortgage crisis and Boris Johnson furore

The Conversation

Why the Bank of England's interest rate hikes aren't slowing inflation enough and what that means for mortgages

Consumer price inflation stuck at 8.7% in May, defying expectations of a slowdown and making a further rise in UK interest rates inevitable.

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Evening Standard

OPINION - The Bank of England vs inflation: over-reacting or under-reacting?

My toxic character trait is that, whenever I find myself in a non-English speaking country (as I believe locals call their mother tongue) and I’m asked a question, I panic and reflexively default to French. This has gone on to cause a scene in Germany, Brazil and one time in…

Bangkok Post

Bank of England delivers big rate hike

LONDON: The Bank of England (BoE) rattled markets by raising interest rates by half a percentage point — twice the amount expected — on Thursday, after it said there had been “significant” news suggesting British inflation would take longer to fall.

The Guardian - UK

Bank of England faces flak as economic history fails to repeat itself

Critics say Bank should pay less attention to economic models and more to what is happening on the ground

Daily Record

Mortgage crisis set to escalate as Bank of England hikes interest rates to 5%

More than 1.4 million mortgage holders could lose at least a fifth of their disposable income in additional repayments.

The Street

Fed Chair Powell Faces New Pressures As Big Bank of England Rate Hike Echoes U.S. Challenge

Markets aren't buying the Fed's rate hike forecasts, but central bank moves in Europe may force their hand.

Birmingham Post

Bank of England hikes interest rate to 5% to reach highest level in almost 15 years

The Bank's Monetary Policy Committee have voted to increase the base rate by 0.5% in a bid to bring inflation down

The National (Scotland)

Bank of England pushes interest rates to highest levels in almost 15 years

THE Bank of England has unexpectedly pushed up interest rates to 5 per cent, the highest rate in almost 15 years, as policymakers and the UK…

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