Relief for borrowers as UK interest rates cut but little sign big reductions to come
Briefly

from www.theguardian.com7 months ago
The interest rate cut followed a fall in inflation to 2% as the Bank aimed to prevent economic stagnation amid concerns high rates could dampen growth. Borrowers anticipate incremental cuts over a few years to reach 3.5% by 2025.
www.theguardian.comhttps://www.theguardian.com/business/article/2024/aug/01/relief-for-borrowers-as-uk-interest-rates-cut-but-little-sign-of-bigger-reductions-to-come
Small businesses facing pandemic challenges may benefit from quicker loan refinancing due to rate cuts. While relief is felt, expectations of rates returning to near-zero levels remain slim.
www.theguardian.comhttps://www.theguardian.com/business/article/2024/aug/01/relief-for-borrowers-as-uk-interest-rates-cut-but-little-sign-of-bigger-reductions-to-come
Read at www.theguardian.com
#bank-of-england #interest-rates #mortgage-offers #economic-growth #borrowing-costs
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