UK house prices have defied expectations by increasing slightly in June 2023 but annual prices fell at the fastest rate since 2009 as soaring mortgage costs took a toll on the market, according to Nationwide Building Society. The surprise monthly rise of 0.1% reversed a 0.1% fall in May 2023 and surprisedRead More →
Cryptocurrency Crypto, short for cryptocurrency, is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies are decentralised currencies, meaning they’re neither issued nor governed by a central bank. Some cryptocurrencies are issued by their developers, while others are generated by their respectiveRead More →
Interest rates and inflation in the UK The UK is facing a cost of living crisis as inflation has soared to its highest level in decades. The Bank of England has raised interest rates 13 times since December 2021 in an attempt to bring inflation back down to its originalRead More →
UK inflation rate remains high at 8.7% in May 2023 The UK inflation rate remained at 8.7% in the year to May 2023, according to the latest official figures from the Office for National Statistics (ONS). This is the same rate that was recorded in April, but down from theRead More →
UK Interest rate 5% and rising The current interest rate in the UK is 5% as of June 2023. This is the Bank Rate set by the Bank of England (BoE), which influences the interest rates that other banks charge borrowers and pay savers. The BoE has raised the Bank Rate 13 times in a rowRead More →