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
Projection that we present today is very much into parts. Im going to begin with the first part. Starting near term outlook. This chart shows the evolution of Consumer Price inflation and its components since 2018. It shows that inflation has come off the peak in october last year and that it continues to fall over the rest of this year in our near term projection. Thats the piece showed in the shade of part of the chart. This fall can be attributed in large part to a full on contribution from energy. Fuel prices have declined, electricity and gas prices have stabilised, albeit at a higher level. The Dark Orange Bars on this chart show how the contribution from Energy Prices falling and turning negatively in the coming months. Giving off gems price cap on energy and gas bills, we expect inflation to take a further step down in the july dates will be published in two weeks time. That will come down to around 7 at that point. Following a larger step down in 0ctober s data to around about
a special report from canada on a devastating wave of wildfires being blamed on climate change. # mama. #just killed a man.#. and remembering the rock legend freddie mercury a new exhibition of his personal possessions and memorobilia goes on show, including this tiny comb for his moustache. and coming up on bbc news, both were already through to the semis but a big win nonetheless for england as they beat world number one team australia at the netball world cup for the very first time. good afternoon. in the last hour, interest
in the early days of the war we follow one family as they return to their homeland. a special report from canada on a devastating wave of wildfires being blamed on climate change. # mama. #just killed a man.#. and remembering the rock legend freddie mercury a new exhibition of his personal possessions and memorobilia goes on show, including this tiny comb for his moustache. and coming up on bbc news, both were already through to the semis but a big win nonetheless for england as they beat world number one team australia at the netball world cup for the very first time. good afternoon. in the last hour, interest