Whilst reducing rates would help homeowners and the housing market, the fact that some experts are now predicting inflation rising beyond 5% mean rates aren’t likely to come down for the foreseeable future. In fact last month one MPC member voted for an increase in rates.
Most MPC members voted for rates to stay the same last month, according to the minutes, whilst one voted for rates to go down and one voted for rates to rise. It will be interesting to see if the Committee is still divided this month – I’ll report back when the minutes are released later in the month.
