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BBCNEWS BBC News July 6, 2024

good afternoon and welcome to bbc news. the bank of england has raised interest rates from 3.5 to li% their highest level since 2008. the increase will leave millions of households facing higher mortgages at a time when many people are already struggling with energy and food bills. it will also have an impact on repayment charges on bank loans and credit cards but it is better news for savers, who should get a higher return. the bank of england says the increase will help to curb rising prices. our economics correspondent andy verity reports. in leeds like every where else, the cost of keeping up a mortgage isjumping, because of interest rates. stu is used to saving after spending much of his life on a minimum wage. he got a better paying job as a librarian, but like many, his wages have stagnated. when his mortgage expired his payments went from £90 a month to £360. i thought the days of checking the bank balance were gone. but they re back with a vengeance now. ....

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BBCNEWS BBC News at One July 7, 2024

could the emergency services have done more to save lives after the manchester arena bombing? a report is due out shortly. the migrant crisis in kent the home secretary visits dover and manston to see for herself what s happening there. and why soaring energy bills mean many swimming pools and fitness centres could be forced to close this winter. i ve been going, what, ten years or more. peter has been coming 16. and coming up on the bbc news channel. it s crunch time in the t20 world cup group stages as pakistan dig deep to claim a vital victory over south africa to avoid elimination. good afternoon. within the last hour, interest rates have gone up by three quarters of a percentage point the biggest increase for more than 30 years. it pushes the base rate up to 3% as the bank of england tries to control inflation. it s the eighth rise in a row, meaning higher mortgage bills for many homeowners. meanwhile, the bank has also warned the uk could be on course for its ....

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BBCNEWS BBC News July 7, 2024

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BBCNEWS BBC News July 7, 2024

interest rates have gone up by three quarters of a percentage point, the biggest increase for more than 30 years. it pushes the base rate up to 3%, as the bank of england tries to control inflation. it s the eighth rise in a row, meaning higher mortgage bills for many homeowners. meanwhile the bank has also warned the uk could be on course for its longest recession since reliable records began, over a century ago. our economics correspondent, andy verity, reports. it is the biggest interest rate rise in a third of a century. the cost of living has been rising at its fastest rate for a0 years for global reasons but the bank of england is trying to prevent runaway inflation from becoming embedded in the domestic economy. these are big changes, they have a real impact on people s lives, so why are we doing it? and why are we doing it now when so many people are already struggling with higher energy and food prices and other bills? quite simply we are increasing the bank ra ....

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