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Money blog: Pound plunges as borrowing costs rise - with economists warning it's a 'big red flag'

The article from Sky News discusses various financial topics affecting UK consumers. It highlights the ongoing cost of living crisis, with a focus on the rising energy prices and the government's response, including the Energy Price Guarantee which caps average household energy bills at £2,500 a year. There's mention of mortgage rates, with some banks like HSBC and Santander reducing rates, offering some relief to homeowners. The piece also touches on the broader economic environment, including inflation rates, the potential for a recession, and how these factors influence personal finance decisions. Additionally, it covers consumer behavior shifts due to economic pressures, such as increased use of credit and changes in spending habits. The article also provides updates on financial markets, including stock market trends, currency fluctuations, and expert analyses on what these trends might mean for the average consumer.

Read the Full Sky Article at:
[ https://news.sky.com/story/money-consumer-personal-finance-mortgage-pound-blog-live-sky-news-13040934 ]