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BBCNEWS World July 5, 2024

and the rate of core inflation which strips out volatile items like food and fuel is actually going up. rising interest rates are piling the pressure on millions of mortgage borrowers here in the uk who are facing steep rises in monthly bills. the bbc has been hearing from some of them. rebecca from greater manchester, craig in cambridgeshire, and rose who lives in hampshire. just three homeowners out of hundreds of thousands of people facing a huge rise in their mortgage costs over the coming months. at this moment in time, at the end ofjune, i will make my final payment of £434 when my current deal ends, and thereafter i have been told to expect my payments will be over £1,800. i m currently paying £560 a month. at the end ofjuly, it will go on to variable and it will go up to £1,200 a month. 0ur mortgage has gone up by over £2,200 a year. - it s a huge impact on our- expenditure and has an impact on the family as a whole. rose has already been cutting co ....

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BBCNEWS World Business Report June 4, 2024 04:41:00

Right now, it sits somewhere around 4%. and that s certainly better than where it was last year somewhere above 8.5% but it s still not good enough. and it s why the fed chair, jerome powell, has said more interest rate hikes seem pretty likely. in may, the i2 month change in the cpi came in at 4.0%, and the change in the core cpi was 5.3%. inflation has moderated somewhat since the middle of last year. nonetheless, inflation pressures continue to run high, and the process of getting inflation back down to 2% has a long way to go. the theory is, by making it more expensive to borrow money, it should cool off the economy. and ten rate hikes later, that tactic seems to be working. of course, the danger is too many rate hikes too fast, and the us economy could fall ....

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