The base interest rate for the Bank of England is 4.5%.
As of the end of 2024, the bank’s interest rate fell to 4.5% from 4.75% in February.
Last week, the market predicted that the bank would hold a 4.5% stake after focusing on the UK economy, fearing the global trade war and the Prime Minister’s spring statement.
Official data showed that the economy signed a contract of 0.1% in January, driven by the decline in manufacturing, which is weaker than forecasts.
Economists forecast a 0.1% increase in January after a 0.4% increase in December.
But the three-month volatility is less, indicating that the economy is expected to grow by 0.2% as of January.
The response of the mortgage market follows…
