Interest rate rise tips the balance on renting vs buying

Renting has become cheaper than buying a property after last week’s Bank of England interest rate rise, new research has claimed. The monthly cost of owning an average home with a 10 per cent deposit mortgage is now slightly higher than renting it, despite rental inflation hitting double digits for the first time in at least … Read more

ACTU boss Sally McManus slams ‘boomer fantasy’ that wage increases will hike inflation

Union boss SLAMS Reserve Bank over its ‘boomer fantasy’ that pay rises for average Aussies will push up grocery prices – as she demands huge hikes Reserve Bank governor Philip Lowe warned about 1970s style wage-price spiral  He fears that if workers continue to get high wage rises, inflation will increase  ACTU boss Sally McManus … Read more

Public sector workers are told not to expect pay to keep up with inflation

Public sector workers are told not to expect pay to keep up with inflation and warned to brace for real-terms cuts as Treasury warns against ‘return to the 1970s’ Boris Johnson said any pay awards would be ‘proportionate and balanced’ Ministers determined to ensure pay awards do not ‘scramble to match inflation’ Treasury chief secretary … Read more

Why millions of Australians are suffering a pay cut despite a big rise in the minimum wage

Millions of low-paid Australian workers on award wages and apprenticeships will suffer a pay cut despite the biggest minimum pay increase in 16 years. Australia’s unemployment rate in May stayed at 3.9 per cent for the third straight month – holding at the lowest level since August 1974. But experts fear rising inflation will see … Read more

Interest rates are set to rise AGAIN with Bank of England taking base above 1 per cent

Interest rates are set to rise AGAIN with Bank of England taking base above 1 per cent for the first time since 2009 in bid to tackle rampant inflation Interest rates have bumped up rates four times since December Prices jumped by 9 per cent, the highest rate of inflation since the 1980s if rates … Read more

Boots freezes prices of 1,500 own-brand products until end of the year

Boots freezes prices of 1,500 own-brand products including toothpaste, shampoo, nappies and shower gel until end of the year The retailer has announced the move as the cost of living continues to spiral It has also expanded its range of own-brand products with prices from 40p   The ‘newly expanded’ range will offer ‘trusted quality and … Read more

Mortgage repayments for millions of Australians could rise in less than 45 DAYS as inflation surges

Mortgage repayments for millions of Australians could rise in less than 45 DAYS as inflation surges RBA boss Philip Lowe said inflation and wage data would be a major focus  This could result in record low interest rates being bumped up in mid-2022   The low rates are largely responsible for Australia’s property market bubble   By … Read more

NHS nurse says she skips meals so her children can eat

‘I skip meals so my children can eat’: NHS nurse and mother-of-three who’s left with just £80 a week after bills says she’s ‘at breaking point’ but has to ‘find a way’ for the sake of her family Rebeccah, from Leicester, is a part-time radiology nurse and a mother of three After paying bills, she … Read more

How deplorable that banks STILL won’t help savers amid soaring inflation, says ALEX BRUMMER 

The prospect of double-digit inflation this autumn, as surging energy and wheat prices force up the cost of living, means that the latest quarter-point hike in the Bank of England’s interest rate to 0.75 per cent will not be the last. So with Putin’s war against Ukraine taking an enormous bite out of Britain and … Read more

Commonwealth Bank economists predict exact month interest rates rise

Australia’s biggest bank predicts the EXACT month when interest rates rise and mortgage holders will be forced to pay more By Colin Brinsden For Australian Associated Press Published: 03:58 GMT, 15 February 2022 | Updated: 04:05 GMT, 15 February 2022 Economists at the nation’s biggest bank now expect the Reserve Bank of Australia will start … Read more

Sunak REFUSES to back pleas for workers to shun big pay rises

Rishi Sunak today refused to back the Bank of England‘s plea for workers to shun big pay rises despite soaring inflation. The Chancellor said it was ‘not the government’s role’ to get involved in negotiations between companies and employees. The thinly-veiled rebuke to Bank chief Andrew Bailey – who last week urged ‘restraint’ on salary … Read more