🏦 The Bank of England held its bank rate steady at 4.25% in June, citing persistent inflation 📈 and current geopolitical tensions 🌍. The Bank did suggest that further cuts could be forthcoming, potentially in August 📅.
📊 The latest round of consensus economic forecasts suggests two further interest rate cuts, taking the year-end rate to 3.75%. Next year, interest rates are expected to drop a little lower to 3.5% by the end of year 📉.
🔥 Inflation continues to be at higher levels than the Bank of England’s target. The May rate of inflation was 3.4%, and current geopolitical tensions in the Middle East 🌍🛢️ have affected oil prices, which could cause further inflationary pressures 💸.
📚 Source: Dataloft by PriceHubble, Bank of England, HM Treasury Consensus Forecasts (June 2025)
