AS THE UK economy falters, Chancellor Rachel Reeves will be desperately hoping the Bank of England (BoE) cuts interest rates at Thursday's meeting.
She's likely to get the answer she wants, with markets saying there's a 90% chance the BoE's rate-setting monetary policy committee (MPC) will cut the official bank rate from 4.75% to 4.50% on February 6.
That would mark its third cut of 0.25% since last August, when the base rate was 5.25%, which would be welcome for homeowners, mortgage borrowers and the wider UK economy.
Savers may not be so pleased, though, as banks and building societies are likely to cut savings rates in response.
The European Central Bank is moving much faster as it attempts to revive the very sluggish eurozone economy, cutting its rates by 25 basis points to just 2.75% on Thursday.
David Zahn, head of European fixed income at Franklin Templeton, predicted that eurozone rates would end the year at just 1.5%.
Esta historia es de la edición February 02, 2025 de Sunday Express.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición February 02, 2025 de Sunday Express.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
OH NO! Another loss for Pep's City
PEP GUARDIOLA says he is struggling to come up with answers after another defeat for Man City left their hopes of Champions League qualification in the balance.
Top-level Ty after a Blades stunner
SHEFFIELD UNITED continued their promotion push with a hard-fought victory at Bramall Lane.
GB Energy's £8.3bn plug pulled
THE Government is considering cutting funding for GB Energy in June’s spending review, which will come as a major blow to Secretary of State for Energy and Climate Change Ed Miliband.
Powell's return is a Grand occasion
WARRINGTON’S Jordy Crowther has warned Daryl Powell will be playing his \"own Grand Final\" when their former boss today makes his first return to the club since being sacked.
Blinded by the nights
Nocturnal tourism is taking off in Tromso, finds Graham Hiscott
HAMMY TIME!
Villeneuve backs a battle of the Brits
Beat the axe and build-up your tax-free savings now
CHANCELLOR Rachel Reeves is rumoured to be plotting to cut the Cash ISA allowance to £4,000, in a drive to encourage savers to invest in Stocks and Shares ISAs instead. But she's picked a poor time to do it.
Ofgem pays record staff bonuses as bills soar
STAFF at the Government quango in charge of regulating gas and electricity prices have received record bonus payments, while households continue to battle soaring bills.
Warning to men after shock bone diagnosis
WHEN Ben Atfield was told he had osteoporosis at the age of 56 he had no idea of the impact it would have on his life.
RARE DOUBLE FOR GO DANTE
OLLY MURPHY and Sean Bowen continued their hot streak as Go Dante went back-to-back in the Betfair Imperial Cup at Sandown.
