Interest rates have been cut for the first time since March 2020, following inflation reaching the Bank's two per cent target
Interest rates have been cut for the first time since March 2020, following inflation reaching the Bank's two per cent targetThe Bank of England
The Bank also released a report alongside its interest rate decision which showed inflation is forecast to increase to around 2.75 per cent in the second half of this year, as declines in energy prices last year fall out of the annual comparison. This will be welcome news for homeowners. Those on tracker or standard variable rate mortgages could see a drop in rates.
“Mortgage holders nearing the end of their fixed-rate period and prospective buyers can now make informed decisions with greater confidence, rather than delaying and speculating.
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