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Bank of England expected to cut interest rates

1 min read

UK interest rates are widely expected to fall on Thursday, potentially dropping to their lowest level since March 2023.

As reported by BBC News, markets anticipate a cut from 4.25% to 4%, marking the Bank’s fifth reduction since last August.

Lower rates could ease mortgage costs but reduce savings returns, with average savings rates already down from last year.

The Bank will also release new forecasts as the UK economy shows signs of stalling.

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Tom Hammersley

Senior Content and Social Media Lead at Staffordshire Chambers of Commerce.

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