News Snapshot:
Illustration by Roy Scott/Ikon Images Borrowers across the country breathed a sigh of relief yesterday as the BBC, Sky News, the Telegraph and the Mirror reported the International Monetary Fund’s prediction that we will soon see the “return of ultra-low interest rates” in the near future, “once high inflation is brought under control”. Such headlines, accompanied either by pictures of houses or people looking at the paperwork involved in paying for a house, gave the clear impression that mortgages will get cheaper when inflation goes down (which it will, sharply and soon, because headline inflation is a year-on-year figure, and...
