Bank of England not yet ready to cut UK interest rates, experts say
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Bank of England’s chief economist dampens hopes of summer interest rates cut
Huw Pill warns inflation could rebound as UK business survey signals economy strengthened over last monthThe prospects of a summer cut in UK interest rates have receded after the Bank of England’s chief economist said inflation must be squeezed out of the economy and cautioned against cutting too soon.After a key survey signalled strong sales across the private sector over the past month and the London stock market rose to a record high, Huw Pill said concerns remained that inflation, which is...
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Borrowers may have to wait until summer for a cut in interest rates as the Bank of England looks for signs the cost-of-living crisis has eased
Economists expect them to be kept at the current level of 5.25 per cent, which it has been held at since August last year. It means borrowers could have to wait longer before pressure starts to ease.
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Judo Bank boss Warren Hogan declares Reserve Bank will hike interest rates three times this year -
The Judo Bank is now forecasting the Reserve Bank will raise interest rates three times in 2024. This would see borrowers paying the highest rates in almost 16 years.