Bank of England not yet ready to cut UK interest rates, experts say

UK borrowers may have to wait longer to see interest rates come down, as policy-makers look set to hold out for stronger signs that the cost-of-living crisis has abated.

It means that borrowers holding out for costs to come down could have to wait longer before pressure starts to ease. “It seems unlikely though to be ready to bite the bullet just yet and the Bank rate looks set to remain on hold at 5.25% for the sixth consecutive meeting.” “Though both measures have continued to fall, progress has been slightly slower than the MPC anticipated, and they are currently running marginally higher than the forecasts published in February’s Monetary Policy Report.”The Bank of England’s Monetary Policy Committee will publish its latest decision on UK interest rates on Thursday

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