Possible cut to UK interest rates next week.

bank of england interest rate

Analysts are expecting lower interest rates to come as early as next week, a new low of 0.25% can now be expected in an attempt to boost a flagging economy post “Brexit”.

In the immediate wake of the referendum result last week, Governor of The Bank of England,  Mark Carney has hinted at further stimulus measures this summer,   after sharply negative economic data over the last few days action could be taken as early as at the next rate-setting meeting on 14 July.

Construction activity in June is said to have fallen at its fastest pace for seven years, this has been attributed to the nervousness surrounding  the potential for a “Brexit” win at the referendum.

The YouGov/CEBR Consumer Confidence Index has just fallen to its lowest level since May 2013, and half of all companies admit to feeling pessimistic about the UK economy, twice as many as before the EU vote.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

How to add value to your home
Estate Agent Talk

5 Top Tips for Running a Business From Home

Have you ever wanted to start and run your own business from home? Although it’s an incredibly rewarding experience, it can be tough to set up and know where to start, especially if you have no business experience or background! Whether you want to run a small business, or have grand ambitions for eventual expansion,…
Read More
Estate Agent Talk

The Importance of Time Management for Real Estate Investors

Time is one of the most valuable assets for real estate investors, especially when juggling multiple projects, clients, and market trends. Without a strong grip on time management, getting bogged down in tasks that don’t drive growth is easy. You see, every minute spent on admin tasks or low-value activities is a minute that could…
Read More
Estate Agent Talk

Transforming Your Condo into a Next-Gen Smart Home Experience

Gone are the days when we must get up to press a button on the TV to adjust the volume, use actual keys to unlock doorknobs, or turn a knob to control the air conditioning unit's thermostat. These days, all we have to do is sit pretty on our couches, let technology do its work,…
Read More
Breaking News

Nationwide House Price Index for October

Annual house price growth slows in October UK house prices rose 0.1% month on month in October Annual growth rate slowed to 2.4%, from 3.2% in September Headlines Oct-24 Sep-24 Monthly Index* 529.6 529.0 Monthly Change* 0.1% 0.6% Annual Change 2.4% 3.2% Average Price (not seasonally adjusted) £265,738 £266,094 * Seasonally adjusted figure (note that…
Read More
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker – 31/10/24

  The average 5-year fixed mortgage rate is now 4.64%, down from 5.36% a year ago The average 2-year fixed mortgage rate is now 4.91%, down from 5.81% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.66%, down from 5.44% a year ago The average 60% LTV 5-year fixed mortgage…
Read More
Breaking News

Breaking Property News 31/10/24

Daily bite-sized proptech and property news in partnership with Proptech-X. Labour’s first Budget – A missed opportunity for meaningful change A property industry insider view of  the Autumn budget   Rachal Reeves the new Chancellor of the exchequer unveiled a £40 billion taxation budget in her autumn statement. Reeves says it is a moment of ‘fundamental choice’…
Read More