Will Interest Rates Go Down In 2024 Uk. The bank of england this week is likely to resist signaling imminent interest rate cuts despite the arrival of new data that is expected to show inflation sinking to a 2 1/2 year low. The bank started raising rates in december 2021 and has kept interest rates at 5.25% since last summer in an attempt to slow the pace at which consumer.
Mortgage holders will be hoping that the next move will be down and soon, especially after inflation fell to 2% in the 12 months to may. Current inflation rate 2% target:
Will Interest Rates Go Down In 2024 In The Uk?
The most common view among forecasters was that rates would fall to 4.25 per cent by the end of 2024.
According To The Latest Forecasts By Financial Analysts, Uk Interest Rates Are Expected To Stay Around The Current Level Of 5.25% Until Summer 2024.
The bank started raising rates in december 2021 and has kept interest rates at 5.25% since last summer in an attempt to slow the pace at which consumer.
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Why Are Interest Rates High?
“there is some consensus that rates will broadly remain flat for 2024 and a drop is unlikely,” says james briggs, head of intermediary sales at specialist lender together.