UBS On-Air: Paul Donovan Daily Audio 'Changing the story?'

Financial markets have had one of those switches in the narrative that happen occasionally, and are starting to worry about higher interest rates driving recessions. The Bank of England’s 0.5-percentage-point rate hike, along with central bank chatter, has pushed this story along. Around 0.2% of UK households will refinance mortgages each month, exposing them to the recent interest rate increase.