Brits are facing a major mortgage crisis as lending rates soar
The average two-year fixed rate rose above 6% on Monday as experts warned of chaos in a market with fewer available products.
The average two-year fixed rate rose above 6% on Monday as experts warned of chaos in a market with fewer available products.
Major central banks are taking very different approaches to monetary policy, as the global economy "is no longer synchronized," an expert said.
The consumer price index was expected to rise 0.1% in May, according to the Dow Jones consensus estimate.
The two-year gilt yield hit its highest level since late August 2008.
The consumer price index is expected to show that all-items inflation increased just 0.1% last month, equating to a 4% annual rate.
The Survey of Consumer Expectations for May showed one-year inflation expectations down 0.3 percentage points to a 4.1% rate.
Initial filings for unemployment benefits totaled a seasonally adjusted 261,000 for the week ended June 3, an increase of 28,000.
The euro zone entered a recession in the first quarter of this year and economists are not optimistic for the coming months.
Growth forecasts for advanced economies project just 0.7% increase this year, down from 2.6% estimated growth in 2022.