HSBC, Virgin Money and TSB were among big high street names pushing through pre-Christmas reductions in the price of their fixed rate homes loans in a boost for property buyers.
More cuts from lenders are expected over the coming days as the mood in the markets shifted rapidly from fear of a prolonged period of high rates to exuberance in anticipation of sharply falling borrowing costs next year.
The Bank of England was widely expected to leave its benchmark rate unchanged at 5.25% for the third consecutive meeting of the Monetary Policy Committee today.
However, City markets are now pricing in a 50% chance of a first cut by the Bank as soon as March with five quarter point cuts bringing the rate down to 4% - expected by the end of 2024.
Esta historia es de la edición December 14, 2023 de Evening Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 14, 2023 de Evening Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
The era of longevity is almost upon us. But can our minds really keep up?
A post-ageing world is just around the corner, says longevity scientist AUBREY DE GREY, and it’s going to change the way we live
Hidden London
SECRET SPOTS YOU SIMPLY HAVE TO DISCOVER
How Christian Louboutin fell in love with Melides in Portugal
The wild beauty of this seaside village charmed the French fashion designer so much that he made it his home
Actor Millie Bobby Brown romances in Hyde Park, feasts at Sheesh and buys thelot at Harrods
Interview with Actor Millie Bobby Brown
How will Arteta manage without influential Edu?
Arsenal need smooth transition between eras just like Man City
"I had no one in Manchester apart from my PlayStation"
Aaron Wan-Bissaka was a young man rated among the country's most promising footballers when Manchester United came calling in the summer of 2019.
The battle for the soul of Soho
Inside the war between London's porn baron family and the council they say is killing the vibe
At the table: Sad steaks seasoned with despair
Fetch the smelling salts, you're in for a shock: A Restaurant Critic Hates a Famously Terrible Restaurant. Low-hanging fruit? Perhaps.
Class portrait Nobody else writes about middle England so acutely
Tessa Hadley's first novella depicts women in refreshing ways
How a tiny cult radio station in Hackney took over the world
I think the most obscure place I've had a listener email from so far was probably a guy in the Yukon,\" laughs Flo Dill, the host of NTS Radio's flagship morning show.
