Rates have gone up again, for the 14th time in a row. The Bank Of England has put up its main rate from 5 to 5. 25 . That will mean higher mortgages for some people, but its also good news for savers. The Bank Of England is using Interest Rate rises to fight inflation, which has slowed recently, but which is still nearly 8 . Our economics correspondent andy verity reports the father of two, peter, keeping up the payments for his familys mortgages looking like anything but childs play. They bought their home under the governments help to buy scheme, but since then Interest Rates have risen 1a times. When his fixed rate deal expires early next year, the payments willjump. Somehow we are supposed to spend less and find an extra £750 per month to pay for that. For many families it is a terrifying situation, but if you have a young family like ourselves, who have been swayed into the Housing Market by government who has advertised help to buy as an affordable scheme, right, when things bec
Team coming into the world cup. To come out of a group where nobody gave them hope, they lost 6 0 in the opening game to germany. What was so impressive about that was the togetherness they showed. I also like the fact that the girl that wore the hijab, for the growth of the game, i think for muslim women and young girls to see a female play in a major tournament, on such a big stage, i think that visibility is crucial moving forward. So here they are taking their place in the Knockout Stage where theyll play france. Thatll be the final last 16 match. It all starts on saturday with spain against switzerland. Holders the usa meet sweden on sunday. While european champions england face nigeria, one of the now three teams from africa whove qualified from the groups. That is on monday. Seven time super bowl champion tom brady has become the latest High Profile Sports star to get involved with an English Football Club. Lebronjames has a small share in liverpool, jj watt is a burnley shareho
From 5 to 5. 25 . And for the first time, its suggested that rates will stay higher for longer in an attempt to drive down stubborn inflation the rising cost of goods and services by reducing the amount of money we have to spend. Although todays increase means Borrowing Costs are at their highest level since 2008, it follows an era of unprecedented low rates. In previous decades, rates were much higher we can see here that in the 1980s rates got up to 18 before gradually falling. The bank today cut its forecast for economic growth, though it said the uk will avoid a recession. In a moment, well hearfrom savers, as well as families trying to cope with increasing costs, but first, heres our Chief Economics correspondent dharshini david. From cafe says customers may resist rate as higher mortgage and rent payments bite, to Estate Agents grappling with a sagging housing market, the hit from Interest Rates is clear. But for a very small minority, that impact is Life Changing. Minority, that
Growing at a slower rate for the past two months, but inflation remains at nearly 8 , four times higher than the official target. Hannah miller has this report. For father of two peter, sorting out the Family Finances is proving hard. He and his wife bought their first home using the help to buy scheme. But when their mortgage comes up for renewal early next year, theyll have to find an extra £750 a month in repayments. Somehow were supposed to spend less and find £750 extra a month to pay for that. So, you know, for many families, its a terrifying situation. If you have young families like ourselves who have been swayed into the Housing Market by government, whose advertised help to buy as an affordable scheme, right, when things become unaffordable, you cant simply turn around and say, thats your problem. A rise of 0. 25 Percentage Points would take the Bank Of Englands base rate to 5. 25 , the highest since april 2008. For someone with an average Tracker Mortgage of £200,000, tha
On nutrition and opening up possible new commercial deals. Brady retired from playing earlier this year, while birmingham finished 17th in the championship and havent been in the Premier League since 2011. The saudi pro leagues remarkable Spending Spree on players is set to continue, according to one of its leading executives. Sadio mane is the latest in a long list of stars heading to saudi arabia, joining the likes of cristiano ronaldo, Karim Benzema and riyad mahrez, and sports Media Executive peter hutton, who is on the board of the countrys league, says its unlike anything he has seen before. It is remarkable. Ive worked in sport for a0 years now and ive never seen a project as big as this. Its ambitious as this. And may be as determined as this, to be a success and a thing that really attracted me to it is the fact that its notjust about headline players and the big Glamorous Transferfee and the big Glamorous Transferfee and wages, its also about the whole saudi football infrastr