The Bank of England is set to meet on 8 May and interest rates are widely expected to be cut 25 basis points down to 4.25 per cent - but homeowners and businesses might be pleased to know the drop won’t stop there.
While the BoE has pledged a gradual approach to cutting rates, in fear of letting inflation run riot again as it did two years ago, many experts are now foreseeing at least a further two cuts in 2025 - and one, Barclays, believes the UK may now see four consecutive cuts to the interest rate.
