2024-11-07 13:29:09
Economy
Banking
Finance
Bank of England's Cautious Rate Cut Amid Economic Concerns
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EuroNews
Bank of England set to make decision on UK interest rate
Economy
Finance
Politics
Bank to cut UK rate; inflation low; Monetary Policy Committee cut rates; Chancellor's spending, tax hikes; Trump's tax cuts, tariffs may raise inflation; US Fed also expected to cut rates.
The Guardian
Bank of England cuts interest rates by 0.25 points to 4.75%
Economy
Finance
Politics
The Bank of England cut interest rates to 4.75% despite concerns that Rachel Reeves's budget will increase inflation by raising the national living wage and Ofgem energy price cap. The central bank expects the chancellor's tax and spending plans to add 0.5 percentage points to inflation and 0.75% to GDP. However, the Bank signaled that borrowing costs are likely to continue falling gradually as it aims to keep inflation close to the 2% target. External economist Catherine Mann pushed for rates..
The Guardian
Does the Bank of England’s interest rate cut mean lower mortgages?
Finance
Economy
The Bank's interest rate cut will have a limited impact on mortgages. 82% have fixed-rates, so won't see changes. Tracker and SVR borrowers may see lower payments, but lenders aren't obligated to pass on the full cut. Fixed-rates are priced on market expectations, not the base rate. The average two-year is 5.42%, five-year is 5.13%. Remortgage offers are valid for up to six months. Some consider base rate trackers for expected cuts. Mortgage broker Nicholas Mendes expects rates to return to the..
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