Pantheon Macroeconomics

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7th Jun 2023 15:27U.K., Daily Monitor

  • The effective interest rate for new mortgages looks set to rise to about 5.35% in August, from 4.41% in April...
  • ...This suggests that mortgage refinancing will deliver around a 1.0pp blow to disposable incomes this year.
  • Households, however, also will benefit from rising deposit rates and lower energy prices soon; a recession isn't likely.

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Keywords for: 8 June 2023 UK Monitor

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