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Bank of England ‘bottling’ rate hike

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The rise comes as former Bank of England governors urged Boris Johnson and Bailey to open up to the public about how soaring inflation and a recession will reduce the UK’s standard of living.

After warning that Britain was facing “tough years reminiscent of the 1970s”, Sir Mervin King said leaders “must provide a clear explanation”.

Interest rate hikes across the West have terrified global stock markets.

Here are 5 stocks you must sell because interest rates are rising.

mortgage pain

Homeowners will have to spend an extra $350 a year on mortgages after the recent rate hike.

Standard floating rate mortgage loans are already at their highest level in more than 13 years and could rise by an additional 0.25 percentage points after the bank rate changes from 1pc to 1.25pc.

However, as can be seen in this graph, fixed price trades were also affected. HSBC raised interest rates on many mortgages today by 0.5 percentage points, double the rate the Bank of England had raised.

Brokers said they were preparing for a “continuous stream of rate hikes” over the next few days.

bear market

It’s also a confusing and worrying time for investors, as Wall Street entered a bear market this week, and the search for a safe haven comes to the fore.

In a Questor column, Richard Evans shows how a fund investing in small UK companies has yielded six times more returns than their competitors.

Tom Stevenson explains how you can get rich if you have the guts when the stock market goes down.

Commentary and Analysis Worldwide: Macron declares that ‘Ukraine must win’

President Emmanuel Macron said Ukraine must “win” the war with Russia amid fears that French, German and Italian leaders would pressure Volodymyr Zelensky to accept Vladimir Putin’s unreasonable peace treaty through a historic visit to Kyiv. ” he declared. Olaf Scholz, Mario Draghi and Macron traveled together on a night train to the Ukrainian capital. James Crisp analyzes how EU leaders made the world promise to Ukraine while the camera rolls. Read why Olaf Scholz can’t deliver on his promises and how this poses a trust issue for Germany. Meanwhile, a senior Ukrainian general has threatened to use Western weapons to blow up the bridge connecting mainland Russia and Crimea.

Thursday interview

‘Yeah, I sometimes called myself an alcoholic’

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2/ https://www.telegraph.co.uk/news/2022/06/16/thursday-evening-uk-news-briefing-todays-top-headlines-telegraph/

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