Experts predict that the Bank of England will not raise interest rates at its upcoming meeting, marking the second consecutive pause after two years of consecutive hikes. The base rate is likely to be kept at 5.25%, although there is a slight chance of an increase. Little new data since the last vote suggests that those who voted against a rate hike are unlikely to change their minds. However, some experts still believe that the decision makers might choose to raise rates based on other factors.
Experts think that the Bank of England will avoid another interest rate rise when it meets next week, the second pause in a row after almost two years of consecutive hikes.
“It would only take one committee member to change their mind to tip the balance in favour of more tightening – but we’re doubtful,” Mr Smith said. Is said that since last time economic data has been soft, including lower than expected inflation in September, worse gross domestic product than in prior forecasts, and weak retail sales and consumer confidence.
Susannah Streeter, head of money and markets, Hargreaves Lansdown, said: “As more homeowners are forced to take on big increases in monthly mortgage costs as their deals come to an end, the effect of financial fragility is likely to show up in more frugal spending patterns and more uncertainty about jobs moves and reticence when it comes to pay demands.
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