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
Favour over the past month. Weve seen sterling rise that will help temper the Price Pressures from imports. Weve also seen other pressures in the markets where theyve been raising some questions about the Bank Of Englands credibility, as in Mortgage Rates going up without decisions being made that has all calmed down, too. And the public s expectations of where inflation is going, which were really very high, have now begun to temper. So thats also going in the banks favour. But a crucial issue is that they have raised rates by 5 the impact of that has really taken some time to filter through into the economy, there is sort of turning the type of rate rises on. Turning the tap. We are beginning to see the impact of that now weve seen in the Housing Market, weve seen it in some corporate insolvencies too. So that all leads back to this Balancing Act between crushing inflation, but avoiding a downturn its a tight rope and we are probably approaching the most narrow, trickiest part of tha
good morning from glasgow where the single biggest cycling event in history begins today. nearly 3000 riders are competing in more than 200 events in the city and across scotland. freddie mercury as you may not have seen him before. we visit the new exhibition which reveals the personal side of the flamboyant rock star. good morning. today is going to be a day of sunshine, bright spells, and blustery conditions as well as a few showers. we have to the weights to the middle of next week for something drier and warmer. it s thursday 3rd august. our main story. the bank of england is expected to increase its interest rate today for the 14th time in a row in its latest move to combat high inflation. the cost of living has been
event in history begins today. nearly 3000 riders are competing in more than 200 events in the city and across scotland. freddie mercury as you may not have seen him before. we visit the new exhibition which reveals the personal side of the flamboyant rock star. good morning. today is going to be a day of sunshine, bright spells, and blustery conditions as well as a few showers. we have to the weights to the middle of next week for something drier and warmer. it s thursday 3rd august. our main story. the bank of england is expected to increase its interest rate today for the 14th time in a row in its latest move to combat high inflation. the cost of living has been