Rishi Sunak urges people to hold their nerve on interest rates

The Prime Minister continues to back the Bank of England as mortgage pressure rises for homeowners.

Rishi Sunak told the BBC: "I've never said that this isn't going to be a difficult time to get through"The UK Prime Minister has urged homeowners and borrowers to "hold their nerve" over rising interest rates aimed at bringing down stubborn inflation.

Mr Sunak continued to back the Bank of England despite some Conservatives saying it has not done enough to bring inflation back to its 2% target. While Karen Ward, a member of chancellor Jeremy Hunt's economic advisory council, said the Bank had "been too hesitant" in its interest rate rises so far and called on it to "create a recession" to bring inflation under control.

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