Relief as no rise in BOE rates

Posted: 22/9/2023


After fourteen consecutive rises, there was widespread relief yesterday as the Bank of England narrowly voted not to raise interest rates again. This was likely due to the fact that inflation is falling, and a massive backlash on the bank after so many previous rises. The news was relief to home-owners, landlords and businesses with finance to pay. On the basis that there will be no further rises, some lenders announced that they would offer more competitive fixed mortgage rates for customers. The news should also be welcomed by tenants who have seen rents escalate as a result of the interest rate hikes. 


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