Will high interest rates cause a housing crash?
The Story
The Times
3.9 • 1.6K Ratings
🗓️ 27 June 2023
⏱️ 29 minutes
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Summary
Last week the Bank of England put up interest rates to 5 per cent - a move that has already meant increased mortgage payments for many. So could this lead to a crash in the housing market? What can the government do to alleviate the pain for homeowners - and is inflation here to stay?
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Transcript
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| 0:00.0 | Finance doesn't need to be disrupted. |
| 0:03.0 | It means people who see the potential for progress, |
| 0:06.0 | like faster payments, more transparency, |
| 0:09.0 | and new ways to meet compliance, |
| 0:11.0 | so that finance can move at the speed of business. |
| 0:15.0 | This is what our blockchain solutions deliver |
| 0:17.0 | for financial institutions, |
| 0:19.0 | enterprises, and central banks around the world. |
| 0:22.0 | Progress is a choice, |
| 0:24.0 | and it's one you can make right now. |
| 0:26.0 | Ripple, crypto means business. |
| 0:56.0 | Last Thursday, |
| 1:06.0 | anyone watching the interest rate announcement |
| 1:08.0 | was left reeling, |
| 1:10.0 | as it rose higher than anyone expected. |
| 1:14.0 | The Bank of England has just announced |
| 1:16.0 | its latest change to interest rates. |
| 1:19.0 | It's putting up the cost of borrowing |
| 1:21.0 | by half of the percentage point, |
| 1:23.0 | taking the base rate from 4.5% to 5%. |
| 1:27.0 | There is shock going around |
| 1:29.0 | since you've learned this lunchtime. |
... |
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