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Story summary
- The Bank of England has kept the base interest rate at 4%, with a 7-2 majority vote, amid ongoing inflation at 3.8%.
- Economists foresee possible future rate cuts but advise caution due to persistent inflation and economic uncertainty.
- The housing market is slowing, with house price growth dropping to 2.8% in July, affecting buyer confidence.
- The Bank plans to reduce bond sales from £100bn to £70bn annually to limit market disruption.
- Analysts have mixed expectations for future rates, predicting stabilization between 3.5% and 3%, influenced by labor market and fiscal pressures.
