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On Wednesday, the OECD said that UK interest rates, which currently stand at 4.75%, are expected to fall back to 3.5% by early 2026. It said that this was partly due to higher than expected inflation.
Sweden's central bank has cut its key interest rate today to 2.75 per cent from 3.25 per cent, as expected, while the Norwegian central bank held its policy interest rate unchanged at a 16-year ...
Half of UK mortgage holders could see their payments increase over the next three years, the Bank of England has said. It estimates that about 4.4 million mortgages are expected to see payments ...
The Bank of England has held interest rates at 4.75% in December - following two falls in 2024. Interest rates affect the mortgage, credit card and savings rates for millions of people across the UK.
In the United Kingdom, the official bank rate is the rate that the Bank of England charges banks and financial institutions for loans with a maturity of 1 day. It is the Bank of England's key interest rate for enacting monetary policy. [1] It is more analogous to the US discount rate than to the federal funds rate.
Following the UK's vote to leave the European Union in June 2016, the MPC cut the base rate from 0.5% to 0.25%, the first change since March 2009. [26] At the same time, it announced a further round of quantitative easing, valued at £60 billion, bringing the total to £435 billion. [26]
Since offering these forecasts in June, the central bank took away 0.50% worth of rate cuts for 2024, 0.50% worth of rate cuts for 2025, and suggested rates would end 2026 above where rates are ...
Average mortgage rates open the New Year holiday week higher as of Monday, December 30, 2024, pushing the 30-year benchmark past 7.00% and to its highest levels since July.