Former Bank of England governor Mark Carney, who ran the Bank from 2013 to 2020, warned big tectonic shifts in the global economy will result in higher longer-term interest rates for a period .
Mortgage holders in Britain are facing ever-higher repayment costs amid concerns the Bank of England will raise interest rates again on June 22 to help keep inflation under control.
The average two-year fixed rate has more than doubled from 2.59 per cent in June 2021 to 5.90 per cent today, according to data from financial experts at Moneyfacts.
The average two-year fixed rate has more than doubled from 2.59 per cent in June 2021 to 5.90 per cent today, according to data from financial experts at Moneyfacts.