Posts with tag: fullstack
The Bank of England is widely expected to cut interest rates again later today, despite inflation still being above its target. Economists say that the bank's Monetary Policy Committee is likely to lower the base rate by a quarter point — which dictates the cost of borrowing for individuals and businesses — to its lowest level since mid-2023. They believe that even though inflation is currently at 2.5% and expected to rise, it will trend lower towards the bank's target of 2% over the next couple of years. This will give the bank room to cut rates, even though inflation is still above target. The rate cut is also seen as a move to stimulate economic growth, which has stagnated in the U.K.
Published on: February 06, 2025, 07:01 AM UTC