2% inflation forecasted in UK economy, but rising prices and potential interest rate cuts pose risk.
2% inflation forecasted; UK economic outlook remains benign for rest of year, but rising prices due to staff pay raises and energy bills pose risk. 50% chance of interest rate cuts in Aug or Sep. Savers advised to take advantage of competitive savings rates, level annuities offer higher starting incomes than inflation-linked ones. Easy access rates and fixed terms rising due to market competition.
July 11, 2024
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