Search Acumen comments on the latest Bank of England’s interest rate announcement.

9th May 2024

Sam Jordan from Search Acumen, property data and insight provider, comments:

Today’s announcement reinforces that talk of turning a corner may have been premature. As we have seen over recent weeks, despite falling inflation and a stable base rate, major banks are still increasing the cost of borrowing. This is based on the belief that rate cuts from the Bank of England may now be further away and slower than initially expected at the start of the year. Should the economy continue to follow its current course, it will eventually support growth and improve investor confidence. However, this year will continue to be challenging for borrowers and there will be a longer lag before improvements in the macro-economic landscape filter through into the real-world experiences of homeowners and real estate investors.” 

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