Interest Rate Cut August 2024

Interest Rate Cut August 2024. While the interest rate cut will be a boost for some homeowners who have been squeezed, the bank of england signalled that a mortgage shock still lay ahead for. The federal reserve announced at its july federal open market committee (fomc) meeting that it will keep its benchmark interest rate unchanged at 5.25% to 5.5%.

When the federal reserve starts cutting its overnight lending rate, it will affect the interest rates on your debts and your savings. Read the boe’s june forecast from the ft’s mpr team.