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The Bank of England has held interest rates at 4.75% in December - following two falls in 2024. Interest rates affect the mortgage, credit card and savings rates for millions of people across the UK.
As well as a further drop of 0.5 per cent anticipated this year, a majority the Fed’s rate-setters forecasee rates reaching 3.4 per cent next year, lower than the 4.1 per cent previously predicted.
The Bank of England cut its main interest rate by a quarter of a percentage point to 4.75% on Thursday after inflation across the U.K. fell significantly, relieving some pressure on borrowers who ...
The Bank’s Monetary Policy Committee announced that rates were being reduced from 5% to 4.75% on Thursday. Bank of England cuts interest rates as borrowing costs to fall ‘gradually’ Skip to ...
LONDON (AP) — The Bank of England cut its main interest rate by a quarter of a percentage point to 4.75% on Thursday after inflation across the U.K. fell significantly, relieving some pressure on borrowers who have faced elevated mortgage and loan costs.
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.