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.
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.