BoE rules out emergency interest rate rise despite market volatility

BoE governor Andrew Bailey said that it will not "hesitate to change interest rates as necessary" while stating that there would not be an emergency monetary policy committee meeting to change rates. Today (27 September) saw some mortgage lenders have withdrawn deals from banks and building societies among the turmoil. The BBC reported Virgin Money and Skipton Building Society stopped mortgage offers for new customers but said submitted applications would be processed. Halifax said it would stop mortgages with product fees, which can result in better repayment rates. Meanwh...