• There could be more pain ahead for the UK economy and the pound if the Bank of England wavers on raising interest rates, top economist Paul Krugman says

    2 monthes ago - By Business Insider

    Paul Krugman. REUTERS/Brendan McDermid
    The Bank of England risks a policy misstep in its response to the new UK budget, according to Paul Krugman.
    That's because the bank has failed to act appropriately in the past, resulting in runaway inflation and two currency crises.
    Failure to tighten now could mean more pain for the pound and the UK economy.
    The British pound could plummet even further if the Bank of England wavers on raising interest rates, according to Nobel economist Paul Krugman. The top economist pointed to Britain's new mini budget, unveiled last week, which involves cutting...
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  • Record number of UK mortgage deals pulled in one day as market mayhem takes hold

    2 monthes ago - By CNBC

    Hundreds of mortgage deal offers in the U.K. have been pulled after market chaos sparked concerns about interest rates rising as high as 6% for 2023.
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  • Soaring interest rates take toll on UK property market - Bloomberg

    Soaring interest rates take toll on UK property market - Bloomberg

    2 monthes ago - By RT

    House purchases have dropped as British banks withdraw mortgage offers amid rising borrowing costs, the outlet reports
    House sales in the UK are in steady decline after the country's banks started actively pulling mortgage products in response to mounting interest rates, Bloomberg reported on Tuesday.
    Between Friday morning and Tuesday morning, the number of residential mortgage products on the UK market dropped by 9% to 3,596 from 3,961, according to data compiled by Moneyfacts Group, as cited by the agency.
    As the financial markets are clearly signaling that the Bank of England might...
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