A decision by the Bank of England to cut interest rates later is "on a knife-edge", according to analysts.Traders have bet on a 60% chance that the UK's central bank will lower rates from 5.25% to 5%, but others believe another hold is on the cards.
Borrowing costs are currently at a 16-year high, putting pressure on household finances, although returns on savings are also greater.

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Reuters

United Kingdom

BoE's Bailey says rate cuts in play, FT reports

The Bank of England will meet later to decide whether or not to cut interest rates.

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BBC News

Government of the United Kingdom

UK interest rate decision on a knife-edge

Expectations on financial markets show about a 65% chance of the Bank of England’s policymakers opting to reduce rates on Thursday.

The Independent

Evgeny Lebedev

London

Greater London

England

Bank could cut UK interest rates but decision a ‘close call’, experts say

Bank of England Governor Andrew Bailey said expectations of interest rate cuts this year were not "unreasonable" and he struck an optimistic tone about the UK economy, the Financial Times reported on Friday.

The Woodbridge Company

LONDON (AP) — Borrowing costs in the U.K. could be cut Thursday for the first time since the onset of the coronavirus pandemic more than four years ago, though economists stressed that the decision is likely to be a close call. Economists are divided as to whether the Bank of England, which is independent of […]

Associated Press News

Independent Media

United States

Bank of England mulling first interest rate cut since early days of COVID-19 over 4 years ago - Seymour Tribune

The Bank of England's Monetary Policy Committee is due to make a key decision.

Daily Express

Reach plc

Interest rates could be cut by Bank of England in hours - here's why

Borrowing costs in the U.K. could be cut later for the first time since the onset of the coronavirus pandemic more than four years ago, though economists stressed that the decision is likely to be a close call

abc News

The Walt Disney Company

Bank of England mulling first interest rate cut since early days of COVID-19 over 4 years ago

Associated Press LONDON (AP) — Borrowing costs in the U.K. could be cut later for the first time since the onset of the coronavirus pandemic more than four years ago, though economists stressed that the decision is likely to be a close call. Economists are divided as to whether the Bank of England, which is independent of government, will cut its main interest rate Thursday by a quarter-point from the current 16-year high of 5.25%, or hold off o…

KIFI

News-Press & Gazette Company

Idaho Falls

Bonneville County

Idaho

TWO major banks are slashing mortgage rates as the Bank of England (BoE) gears up to make a major interest rate decision tomorrow. NatWest and Virgin Money are both cutting home loan deals by up to  0.31% from today. AlamyNatWest and Virgin Money are both slashing rates on mortgages[/caption]
NatWest has announced of a number of changes to mortgages which take effect from tomorrow (August 1). Rates on some purchase and remortgage deals will be s…

The Sun

Murdoch family

Major banks cut mortgages rates ahead of Bank of England interest rate decision

The central bank's decision was viewed by markets as being on a knife-edge despite inflation reaching target.

UK interest rate decision on a knife-edge

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