Burnham has to sell Bank rate rises as ‘breathing space’ – good luck with that
And even without a rate rise from the Bank, mortgage rates have already jumped, as markets contemplate a period of higher inflation. The MPC now expects inflation to be above 4% in the first quarter of 2027.The minutes of the their meeting suggested a marked reluctance to raise rates for now. While energy prices have shot up, the jobs market remains weak, helping to contain the risks of the “second-round effects” that allow inflation to become embedded.And the six:three vote for a hold was the same as at their last meeting in July, suggesting no rush to jump immediately.
- ▪And even without a rate rise from the Bank, mortgage rates have already jumped, as markets contemplate a period of higher inflation.
- ▪The MPC now expects inflation to be above 4% in the first quarter of 2027.The minutes of the their meeting suggested a marked reluctance to raise rates for now.
- ▪While energy prices have shot up, the jobs market remains weak, helping to contain the risks of the “second-round effects” that allow inflation to become embedded.And the six:three vote for a hold was the same as at their last meeting in Ju
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| Canonical URL | https://www.theguardian.com/business/2026/sep/17/andy-burnham-bank-interest-rate-rises-inflation |
| Publication time | Thu, 17 Sep 2026 11:54:08 GMT |
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People pass the Bank of England Photograph: Tolga Akmen/EPAView image in fullscreenPeople pass the Bank of England Photograph: Tolga Akmen/EPAEconomicsAnalysisBurnham has to sell Bank rate rises as ‘breathing space’ – good luck with thatHeather StewartPM’s push to cut cost of living is threatened by rising inflation and higher government borrowing costs Bank of England holds interest rates Business live – latest updates Thu 17 Sep 2026 07.54 EDTLast modified on Thu 17 Sep 2026 07.55 EDTShareGood luck to Andy Burnham convincing voters he is giving them “breathing space,” if the Bank of England ratchets up interest rates in the coming months.That was the prospect opened up by Thursday’s minutes of the Bank’s monetary policy committee (MPC) meeting, which left rates unchanged at 3.75% – for…
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