Inflation has fallen fairly rapidly over the last few months, hitting two per cent in June.
As a result, markets expect the Bank of England to start cutting interest rates in the near future, either in August or September.
Minutes from the most recent meeting in June showed that it was a "finely balanced" decision, which suggested that the Monetary Policy Committee (MPC) is readying a cut.
And with traders pricing in two rate reductions over the remainder of the year, mortgage rates have moved lower. Figures out just last week showed that the effective interest rate on new mortgages was 4.79 per cent in May, down from 5.19 per cent at the beginning of the year.
This story is from the July 07, 2024 edition of Sunday Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 07, 2024 edition of Sunday Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Lando's full of team spirit with Lewis at low ebb
LANDO NORRIS showed it was payback time in Qatar, while Lewis Hamilton cannot wait for a wretched campaign to end.
UNAI BELIEVED HE COULD BANK ON BARKLEY
ROSS BARKLEY'S charge back to the top of English football is gathering momentum.
Global trade Set to put up the barriers
RISING global trade barriers threaten to drag on worldwide economic growth and unsettle the stability of the UK's financial system, the Bank of England has warned.
Bishop who made Welby resign warns of more Church scandals
THE CLERGYWOMAN who forced Archbishop of Canterbury Justin Welby to resign over a notorious child abuse case has warned \"a lot more\" Church of England scandals will come to light.
Rabies alert puts puppy smugglers in spotlight
FAMILIES hoping to buy a pet for Christmas have been warned against buying a smuggled puppy which could carry rabies.
Own goal! Fears new watchdog could trigger Europe ban
CALLS have been made for Culture Secretary Lisa Nandy to guarantee a planned new football regulator will not lead to English teams being banned from international competitions.
How Al Fayed 'hid his abuse’
A FORMER Harrods director described how Mohamed AI Fayed would manipulate managers to conceal his alleged sexual abuse of dozens of women and girls.
Is Russia losing its srip on Georgia?
RUSSIA is losing influence in Georgia and the South Caucasus to its allies China and Iran, a report claims.
Disabled Peanut and Peps give Claire a pet project
A WOMAN who adopted a blind dog and a lame cat has written two children's books about her beloved pets to teach youngsters about disability.
‘One-term wonders’ given cold shoulder by Westminster
MORE than 80 MPs turfed out of Parliament in the general election face another indignity after being denied House of Commons passes.
