Report UK mortgage rates rising as Swap rates rise sharply in House prices and the economy Posted 2 hours ago 1 hour ago, zugzwang said: Alternative scenario: the economy flatlines after a couple of tiny hikes and we get a run on sterling. Can you imagine? The economy mired in a stagflationary recession even though the govt is borrowing >10% of GDP every year? It's almost incomprehensible that we've got to this point but we have. A run on the currency would be absolutely mental after all the plate spinning they have done! How high would rates have to go in that scenario I wonder?