Fed Interest Rates 2024 Predictions Uk. The bank of england this week is likely to resist signaling imminent interest rate cuts despite the arrival of new data that is expected to show inflation sinking to a 2 1/2 year low. The bank of england is widely predicted to cut rates sooner after data released.
For one, the fresh cpi data due wednesday will be the first since the spring budget, where chancellor jeremy hunt made the bold forecast that inflation would reach the 2% target in 2024, a year. Uk interest rates were cut on 1 august 2024 for the first time since 2020, bringing relief to many households and businesses struggling with higher mortgage costs and debt repayments.
