UK

Bank of England presses pause on interest rate hikes

Pause follows 14 rises in a row, taking the base rate from 0.1 per cent to 5.25 per cent

Some homeowners may be breathing a sigh of relief after the Bank of England’s decision to press pause on interest rate hikes, but many are yet to fully feel the impact of the increases that have already taken place.

With many homeowners sitting on fixed-rate mortgages, the effects of previous rate rises are still working their way through, as people’s deals come to an end and they take out new deals at higher rates.

According ...