cut-rate

Following the Budget, which included plans to borrow and spend billions of pounds, financial markets expect the Bank of England to cut rates more slowly than previously anticipated.

That’s convinced investors inflation will stay higher for longer and the Fed won’t be able to cut rates as much as they otherwise could have.

Some lenders, as seen with an announcement by Barclays, could raise rates on some deals, while still cut rates on others.

On Tuesday, China’s central bank announced that it would cut rates in its biggest stimulus package since the pandemic in order to encourage consumption and shore up the economy.

The decision to cut rates in August was tight.