Don’t be fooled by the interest rate cut – higher rates are here to stay

Don’t be fooled by the interest rate cut – higher rates are here to stay
By: The Guardian Posted On: August 02, 2024 View: 17

Mortgage payers and business owners vainly hope cut to 5% signals return to pre-pandemic era of cheap borrowingMortgage payers and business owners will be hopeful that a cut in interest rates to 5% by the Bank of England this week signals a return to the pre-pandemic era of low borrowing costs.Unless much lower interest bills arrive soon, thousands of homeowners and businesses could be forced to sell up. Continue reading...

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