Bank of England to halt interest rate cuts
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Interest rates live: Inflation rises ahead of Bank of England’s first rates vote of 2026 - Today’s interest rate announcement comes as CPI rates rose to 3.4 per cent in December
Hopes for an base rate cut in early 2026 have been knocked on the head after figures revealed inflation climbed to 3.4 per cent in December.
Sterling rises ahead of the BoE’s 2026 policy meeting as markets expect a 3.75% hold and UK borrowers face refinancing risks.
‘Slaughter’ of savings rates will sadden hard-pressed households, expert warns - The Bank of England base rate was held on Thursday but Moneyfactscompare.co.uk said 70% of savings providers have already cut rates in 2026.
Jan 22 - Morgan Stanley expects the Bank of England to deliver its next interest rate cut in March, scrapping its forecast for a 25-basis-point February cut, after data showed British inflation rose more than expected in December.
The base rate impacts what banks and lenders charge you when you borrow money - so for example, if you have a mortgage - as well as the rate they pay on savings