Inflation has fallen fairly rapidly over the last few months, hitting two per cent in June.
As a result, markets expect the Bank of England to start cutting interest rates in the near future, either in August or September.
Minutes from the most recent meeting in June showed that it was a "finely balanced" decision, which suggested that the Monetary Policy Committee (MPC) is readying a cut.
And with traders pricing in two rate reductions over the remainder of the year, mortgage rates have moved lower. Figures out just last week showed that the effective interest rate on new mortgages was 4.79 per cent in May, down from 5.19 per cent at the beginning of the year.
Bu hikaye Sunday Express dergisinin July 07, 2024 sayısından alınmıştır.
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Bu hikaye Sunday Express dergisinin July 07, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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