Bank of England expected to keep borrowing costs at 5.25% despite inflation hitting 2%.

From Forbes: 2024-07-17 06:28:20

Bank of England is expected to hold borrowing costs at 5.25% at the next meeting on 1 August, despite inflation falling to the Bank’s 2% target. Some hope for a rate cut to 5% to provide relief to borrowers, but concerns about service sector inflation may delay this decision until the autumn.



Read more at Forbes: All Eyes On Bank Rate Decision As Price Rises Hold At 2% – Forbes Advisor UK