and a change in the structure come in the system of the mortgage market, with lots more fixed rate mortgages, which means all these rises we ve had, the bank now says it is having less of an immediate impact on the economy that is similar rise would have had 20 or 30 years ago, taking extra time. it will come through eventually though but two thirds of the impact yet to come to stop a balancing act between inflation and growth that very much remains. . ., inflation and growth that very much remains. ., ,, , ., one of britain s most complained about service, transpenine express, has been stripped of its contract after months of cancelled trains. the government will now run its rail network covering the north of england and parts of scotland. it is the fourth rail operator to be nationalised since 2018. our transport correspondent katy austin reports from manchester. ona on a busy transpennine express train from manchester to york this morning, rail commuters were taking in the news. man
affecting 1.4 million people with a variable mortgage and nearly two million who are set to take out a new mortgage this year. the bank of england estimates that people on fixed rate mortgages who need to renegotiate this year will find themselves paying around £250 a month more than they used to. the bank of england puts up interest rates in an attempt to slow down the rise in the cost of living. if people have less money to spend, the theory goes, it forces prices to come down. and it is forcing gheev to stick to a budget. and it is forcing guive to stick to a budget. do we have to make cutbacks on savings that we want to make to put towards holidays or put towards other luxuries that we might not be able to afford? but at the same time, i understand that there are people in way less fortunate situations. and with households and businesses now facing interest rates at their highest for almost 15 years, many will be looking out today for whether the end of rate rises is in sight. han
that it s increased, affecting 1.4 million people with a variable mortgage and nearly two million who are set to take out a new mortgage this year. the bank of england estimates that people on fixed rate mortgages who need to renegotiate this year will find themselves paying around £250 a month more than they used to. the bank of england puts up interest rates in an attempt to slow down the rise in the cost of living. if people have less money to spend, the theory goes, it forces prices to come down. and it is forcing guive to stick to a budget. do we have to make cutbacks on savings that we want to make to put towards holidays or put towards other luxuries that we might not be able to afford? but at the same time, i understand that there are people in way less fortunate situations. and with households and businesses now facing interest rates at their highest for almost 15 years, many will be looking out today for whether the end
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