Today’s interest rate news brings a shift in market expectations. With UK inflation at 2% for June —slightly higher than anticipated.
The Bank of England is now more likely to maintain the current interest rate of 5.25% during the upcoming meeting on August 1st.
Market predictions for an August rate cut were 50/50, now they’re 64.4% for no change.
The inflation data is still pretty close to the Bank of England’s target and won’t cause any panic. We still expect to see rates come down as we get closer to the end of the year.
About The Author: Sunny Budhdeo
With a career that spans over 20 years, Sunny initiated his journey in the mortgage industry as an adviser at the prestigious estate agency Barnard Marcus. He quickly gained recognition for his expertise, particularly in specialist finance, focusing on complex buy-to-let loans and bridging finance. As the Co-Founder of Unique Property Finance, Sunny has become a linchpin in the industry, adept at solving intricate property finance issues and fostering strong relationships with lenders.
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