Bank of England keeps base interest rate at 5% amid inflation at 2.2%, signaling potential gradual cuts.
The Bank of England has kept its base interest rate steady at 5% after a previous cut, indicating potential gradual reductions if inflation remains low. The decision, supported by an 8-1 vote, reflects stable economic data, with inflation at 2.2%. Financial experts predict possible rate cuts in November and December, which could ease borrowing costs for mortgages. Households are advised to secure favorable mortgage rates amid ongoing inflation concerns.
September 19, 2024
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