The Bank of England has reduced interest rates to 4.5%, the lowest since June 2023, affecting tracker mortgages and potentially leading to more competitive fixed-rate deals. The move comes amid revised economic growth forecasts and warnings of rising inflation.
The Bank of England has reduced interest rates to 4.5% in February 2025, aiming to ease inflationary pressures. Nationwide Building Society responds by lowering its Standard Mortgage Rate to 7.24%, effective from 1 March 2025. The mortgage market sees increased competition with new sub-4% fixed-rate deals, amidst a cautious economic outlook.
The Bank of England has reduced interest rates to 4.5%, the lowest since June 2023, while also cutting its 2025 UK growth forecast to 0.75%. Governor Andrew Bailey warns of a temporary inflation rise, with the economy facing stagflation risks.
The Bank of England has reduced interest rates to 4.5%, the lowest since June 2023, to ease financial burdens on borrowers as the UK economy faces sluggish growth and rising inflation. The Monetary Policy Committee's decision comes with a downgraded growth forecast for 2025, highlighting ongoing economic challenges.
Following the Bank of England's decision to cut the base rate, major lenders like Barclays, HSBC, Nationwide, and Santander have reduced mortgage rates, benefiting borrowers on tracker and standard variable rate mortgages.
The Bank of England has reduced interest rates to 4.5%, the lowest in over 18 months, and cut its growth forecast for the UK economy to 0.75% in 2025. Governor Andrew Bailey warns of a 'bumpy road ahead' due to economic uncertainty, while the rate cut offers relief to borrowers but may impact savers negatively.
The Bank of England has reduced interest rates to 4.5%, the lowest since June 2023, aiming to stimulate economic growth amidst a challenging outlook. This decision, part of a series of cuts, reflects concerns over sluggish growth and inflationary pressures, with further reductions anticipated.