this is possible because economists are predicting the next move in the bank of england s benchmark rate will be down and so that is already fed through to mortgage lenders on funding costs, so that is why the halifax, the uk s biggest lender, has been able to announce this quite chunky fall and others like hsbc tomorrow and others will announce further, will see further reductions. it does depend on what deal you have got. it will depend on your circumstances. another warning that brokers expect more rate cuts to come, but it won t fall to the ultralow levels we have benefited from for a decade or so. from for a decade or so. kevin, thank yom a motorist has been killed after a tree fell on his car during storm henk that swept across large parts of the uk yesterday. high winds caused widespread travel disruption and thousands of homes lost power. almost 300 flood warnings are still in place in england, scotland and wales due to heavy rain. there s one severe flood warning meaning
Russia's central bank will need two to three months to make sure that inflation is steadily declining before taking any decision on interest rate cuts, the bank's governor Elvira Nabiullina told RBC media on Sunday. The central bank raised its key interest rate by 100 basis points to 16% earlier in December, hiking for the fifth consecutive meeting in response to stubborn inflation, and suggested that its tightening cycle was nearly over. The bank will next convene to set its benchmark rate on Feb. 16.
The Czech Republic’s central bank cut its key interest rate Thursday hoping to give the country's struggling economy a boost. The cut by a quarter of a percentage point brought the interest rate down to 6.75%. Last year the bank raised its key interest rate as it tried to combat soaring inflation.