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UK interest rates could take longer to fall further after the Bank of England forecast that inflation will creep higher after last week's Budget. The Bank cut interest rates to 4.75% from 5% in a ...
UK interest rates are on track to drop to 3.75% by the end of 2025, it said. Meanwhile, the UK’s unemployment rate is expected to rise over the period. The unemployment rate unexpectedly ...
It added: “The policy rate forecast in this report implies that the policy rate will remain at 4.5% to the end of 2024 before being gradually reduced from the first quarter of 2025.” Markets ...
Borrowing rates, set by the Bank of England, will sink to 2.75 per cent by the end of next year, Goldman predicts, suggesting a faster fall than borrowers and lenders have forecast.
On Wednesday, the OECD said that UK interest rates, which currently stand at 4.75%, are expected to fall back to 3.5% by early 2026. It said that this was partly due to higher than expected inflation.
UK interest rates have been held at 4.75% following a divided vote among Bank of England policymakers, as they weighed up concerns over a stagnating economy and persistent inflation.
And even when interest rates do start to come down, inflation will only fall in “a slow, gradual manner”, close to the Bank of England’s target of 2 per cent, by 2025, he said.
The Bank of England‘s governor Andrew Bailey has described economic growth in the UK as “subdued”, as a major charity has warned that keeping interest rates unchanged at 5.25 per cent will ...