interest rates

High interest rates are temporary, says Andrew Bailey

While more rate rises are on the way, Bailey’s comment about a return to “low global equilibrium” is one of the first suggestions that the Bank expects higher rates to be short-lived. Factors such as increasing life spans have pulled down interest rates globally in recent decades as people save up more money for their …

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Property market ‘defies logic’ as house prices rise 13pc

House prices increased 13pc in the last year, the highest annual growth since 2004, as experts warned the property market was “defying logic”. Despite a cost-of-living crisis damaging household finances, house prices rose 1.8pc in the month to June in the biggest monthly rise since early 2007, according to lender Halifax. The monthly growth rate …

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