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#UK #inflation rose again this month to 2.60%, and whilst it is still in a normal range, the rise will mean that the Bank of England Monetary Policy Committee (MPC) will hold their #baserate at 4.75% tomorrow.   Prior to the October budget, expectations were for several base rate cuts in 2025 for a year-end base rate around 3.50%-3.75%, but financial markets are now predicting only two or three cuts of 0.25% next year, for a year-end base rate between 4%-4.25%.   Despite low growth in the wider economy, the #mortgagemarket will be very busy next year with over £300bn of fixed rates maturing. This is the largest refinancing year ever, thanks in large part to so many borrowers opting for 5-year fixed rates in 2020 when interest rates fell during Covid. The article below is worth a read, to provide more details on today's news. https://lnkd.in/e_MC6-BK #mortgages #mortgagenews #inflationnews #ukinflation #ukfinance #interestrates #money #finance

UK inflation for February came in at 3.4%, official figures show - down from 4%. Economists had forecast the Office for National Statistics figure would fall to 3.5%. It's now the lowest level in more than two years. The next Bank of England decision is tomorrow - when rates are almost certain to be held at a 16-year high of 5.25%.

📉 UK Inflation Update: Are We Heading Towards a "Soft Landing"? The latest inflation data shows the UK CPI has dropped to 2.3%, edging closer to the Bank of England's target of 2%. This better-than-expected decline has sparked discussions about potential rate cuts, with the IMF even suggesting the possibility of three reductions this year, thanks to a healthier economic trajectory and a "soft landing" on the horizon. However, with the job market remaining robust and the risk of inflation rising again if spending increases, is it too early to consider lowering interest rates? While we're moving in the right direction, striking the right balance will be crucial to maintaining economic stability and growth. What's your take? Are we ready for rate cuts, or should caution prevail? • • #UKInflation • #EconomicRecovery • #InterestRates • #FinancialPolicy #BankOfEngland

This morning’s UK inflation data was more dovish than expected, with a headline figure of 1.7%, below the 1.9% consensus, driven by falling global oil prices. Core inflation dropped to 3.2% from 3.6%, also undershooting the 3.4% forecast, and services inflation fell significantly from 5.6% to 4.9%. This suggests a broader pullback in underlying price pressures, potentially paving the way for two more Bank of England (BoE) interest rate cuts in 2024, starting with the November 7 meeting. The BoE has indicated it wants service inflation to decrease before further cuts, which it got today. The significant fall is against the US Dollar. The Pound is down over 3% so far this month and now trades at an 8-week low against the greenback but is down against all its major currency peers. Good news if you need to buy Pounds.

🇬🇧 Inflation in the UK A nice chart to summarise UK inflation over the past few years Interest rates have clearly done their job which is why we now see cuts across the board Now that the cutting cycle has begun, this should be a turning point for the economy, starting to relieve pressure in the UK Yesterday we saw CPI y/y fall from 2.2% to 1.7%, below BOE target for the first time in over 3 years. This should give BOE confidence in further cuts Thoughts? 🧐

U.K. inflation increases by 10% from 2% to 2.2% in the year to July. The question I have is why did the Bank of England actually vote for a rate cut last month when it was predicting an inflation uptick? With the high public sector pay rises apparently not feeding into inflation (so say some governors) I wonder what happens next to Bank of England interest rates? Will they continue to fall or maybe even reverse and increase? https://lnkd.in/eNs3rM7G

UK inflation fell to 2.3% in April, the lowest level in over three years, but the drop was smaller than predicted, dashing hopes for an early interest rate cut. City economists predicted that the annual increase in the cost of goods and services would fall to 2.1%, close to the Bank of England's 2% objective. Markets responded by lowering their expectations that the Bank will drop interest rates from their current 5.25% level as early as next month, with forecasts for a reduction in August also reduced. The consumer price index drop from 3.2% in March, was mainly driven by lower energy and food prices.

📉 UK inflation eased slightly more than forecast with the headline figure dipping below the Bank of England’s 2% target for the first time in over three years. 👩💼 The jobs market remains relatively robust despite wages rising at their slowest pace in two years – a further sign that underlying inflationary pressures continue to ease. ✂ Markets are fully pricing a 0.25% rate cut next month, and a 70% probability of a further cut in December. 💳 Focus now is very much on the Budget and the implications for fiscal and monetary policy, and economic growth going forward. 💶 The European Central Bank cut rates by 0.25% yesterday as expected, with forecasters now looking for further cuts at every meeting through to mid-2025. 🌎 The macro backdrop remains key with geopolitical risk and the uncertainty of the US election weighing on investor sentiment. 💸 Sterling dropped back towards the 1.3000 level against the dollar on the weaker inflation print, while GBP/EUR is attempting to gain a foothold above psychological 1.2000 level. See more insight and analysis - https://lnkd.in/dJHH-ag5

UK inflation rises as price pressures continue but services inflation remains unchanged. It is now expected the Bank of England will hold interest rates where they are tommorow which will not be welcome news to those firms under increasing cost pressures. #inflation #interestrates https://lnkd.in/eNDWWePz

UK Inflation Drops to 1.7%: What Does This Mean for Borrowers and Investors? The UK inflation rate fell to 1.7% in September, marking its lowest level in over three years. 🏷️ This decrease, driven by lower petrol prices and a significant reduction in airfares, means inflation has dipped below the Bank of England's 2% target. So, what’s next? 📉 With inflation cooling, we might see further interest rate cuts, potentially as soon as November, with another reduction on the horizon for December. Good news for borrowers: lower rates make loans and mortgages more affordable. 💸 But it's not all good. 🚨 Food prices have increased for the first time since March 2023, affecting essentials like milk, cheese, and soft drinks. Plus, energy bills are set to rise, which could impact future inflation rates. At NUMMUS Finance , we’re keeping a close watch on these shifts. Lower interest rates can open doors for both borrowers and investors. Whether you’re looking to refinance or explore new investment avenues, our team is ready to guide you through these changes. 🚀 💬 Your turn: What are your thoughts on the recent inflation trends and potential rate cuts? Let’s discuss! https://lnkd.in/eeGQ4wZR #Inflation #InterestRates #Finance #NUMMUSfinance #Investing