The cut should feed through relatively quickly to the 1.5 million homebuyers with mortgages that track the Bank of England base rate, giving these individuals a noticeable boost. However, it is likely ...
The BoE is also grappling with sagging UK business confidence and surveys point to corporate redundancies. Data suggests the UK economy probably failed to grow in the final months of 2024.
ING is looking for three further cuts later this year, but a shaky jobs market and the prospect of lower services inflation risks pushing the BoE into more aggressive moves. Click to read.