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.
Denne historien er fra December 14, 2023-utgaven av Evening Standard.
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Denne historien er fra December 14, 2023-utgaven av Evening Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
In the eye of the storm A rich account of Britain's political chaos
Tim Shipman’s fourth and final tome covers Johnson to Sunak, via Truss
Is this government full of amateurs?
Labour's hard landing has revealed a cabinet struggling with the basics
It's going to be weird when the national anthem plays, but I'm so proud to lead the United States
Emma Hayes closed the book on 12 trophy-laden years at Chelsea with her fifth consecutive Women’s Super League title in May.
Can Guardiola fix 'fragile' City after latest implosion?
Rebuilding his ageing side will bea greater challenge than building it in the first place for one of the greats
London wins battle of the global city brands again...
...but the capital still has plenty of work to do ifit wants to keep that crown
At home with...Earl of East
The duo behind the fragrance brand have made a Leyton new-build their sanctuary
How evolution evolved: the risks and rewards of gene-editing technology
INDIA BLOCKspeaks to paediatrician and TV writer Dr Neal Baer about the controversial advancement
This beloved take on Dickens is a joyful gift that keeps on giving
AIl through a bright, bitter winter day I was smiling because I was coming to see Jack Thorne's adapAtation of Charles Dickens's story again.
Market merrymaking
Bundle up in your warmest coat, hat and mittens to visit the best Christmas markets in the UK.
Festive favourites
Perfect your Christmas spread with a vibrant spin on a seasonal staple.
