Japan raises interest rates to 31-year high as central bankers fight inflation; retail sales rise in Great Britain – business live

Rolling coverage of the latest economic and financial news UK mortgage rates have crept a little higher today, even though the Bank of England left interest rates on hold yesterday. Moneyfacts reports that the average 2-year fixed residential mortgage rate today is 5.84%, up from 5.83% yesterday. That’s the highest since 21 May. “Whilst our recent financial performance has been resilient, this is a heavy blow to the Mothercare business and our stakeholders. We will continue to pursue discussions to restore critical mass and value for stakeholders, against this more difficult backdrop.” Continue reading...