Follow this section to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. Follow this tag to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. Follow this author to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. President Donald Trump photographed at the White House in Washington, D.C. on Sept. 28, 2026. President Donald Trump photographed at the White House in Washington, D.C. on Sept. 28, 2026. Follow this author to personalize your feed and get instant alerts. Follow Go to your personalized feed WHY FOLLOW? Smart Alerts: Get notified about major news as it happens. President Donald Trump sat down for an interview with TIME at the White House on Sept. 28.

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The Federal Reserve raised interest rates for the first time since 2023 as inflation remains elevated. Voters feeling the squeeze on mortgage rates and credit cards may not care.

What's happening to UK interest rates and what does it mean for mortgages? The Bank of England has kept UK interest rates unchanged at 3.75% for a sixth time in a row, keeping them at the lowest level since February 2023. Before the US-Israeli war with Iran, rates had been expected to fall in 2026, but the economic fallout from the conflict has pushed up inflation across the globe, making cuts unlikely and rises a possibility. Interest rates affect mortgage, credit card and savings rates for millions of people. What are interest rates and why do they change?

Policymakers at the Bank of England are expected to keep interest rates unchanged despite price rises accelerating due to the prolonged conflict in the Middle East. The nine-member Monetary Policy Committee (MPC) has been meeting amid a backdrop of increasing global energy prices and interest rate rises around the world. Economists expect the MPC to hold the benchmark Bank rate at 3.75% for a sixth consecutive meeting but analysts are more divided on whether the rate will need to go up before the end of the year. The Bank rate is crucial in setting the benchmark for banks and other lenders in setting interest for individuals and businesses borrowing and saving money. The latest interest rate decision will be announced by the Bank at 12:00 BST on Thursday.

To play this video you need to enable JavaScript in your browser. US interest rates have been raised for the first time in more than three years and could be increased further in a bid to slow rising prices. Fed Chair Kevin Warsh said the move was because inflation is too high and has been for too long, adding that it was a sober and responsible decision. However, Trump said rates should be 1%, or less, because we are the Best Credit in the World - BY FAR. Higher interest rates make borrowing more expensive for people wanting to secure loans, mortgages, and credit cards, but can lead to better returns on savings.

US government borrowing costs climbed to their highest level since 2007 after a jump in oil prices further fuelled concerns about inflation. The effective interest rate on US government bonds over 10 years, known as the 10-year Treasury yield, rose as high as 5.04% but has eased back since. Government bond yields have been rising globally for months, driven by worries that inflation caused by the oil price surge since the start of the US-Israel war with Iran will lead to higher interest rates. The US has been buying back bonds back in a bid to drive the Treasury yield down, with Treasury Secretary Scott Bessent calling the intervention successful. The global benchmark wholesale oil price rose to over $109 a barrel on Tuesday, up from around $86 at the end of August, after renewed concerns about Saudi Arabia's ability to export oil following rising tensions in the region .

University applicants in England will be given clearer information about student loans before they take them out, the government has said. Ministers said they would spell out that governments can change repayment rules and that different career choices can affect how much borrowers repay. They agreed to some but not all of the recommendations made by MPs after an inquiry into student loans, and did not say whether they would reverse a freeze to the repayment threshold for some graduates. The inquiry found the way loans had been presented to teenagers amounted to mis-selling, after the BBC revealed the Department for Education (DfE) had compared repayments to £30-a-month phone contracts. The recent debate has centred around Plan 2 loans, which were issued in England between September 2012 and July 2023, and are still issued in Wales.

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What with a 250th birthday, Taylor Swift's wedding and the football World Cup, Americans could be forgiven for taking their eye off the ball this summer. But signs of economic trouble have been building. This week they hit the headlines when US national debt passed the $40tn (£29.4tn) How did we get here? It took almost 200 years for US national debt to reach $1tn for the first time, says Maya MacGuineas, president of the Committee for a Responsible Federal Budget.