You are here: cherry > Press releases for March 2024 > BBR rate decision - advice must be based on mortgage rates today - Rob Clifford, Stonebridge

21 March 2024

"Even with the announcement of yesterday's fall in inflation, a Base Rate cut always felt like a bridge too far for the MPC at this month's meeting; although, with the OBR forecasting inflation will hit the 2% target in the next couple of months, it feels like we are not a million miles away from that first highly-anticipated BBR cut. In the meantime, the likelihood is that mortgage product rates are not going to move much in the coming weeks, and we must also recognise that, even with a cut, there won't be a huge shift downward in pricing.

For advisers, it is therefore all about making their customers aware of this and continuing to provide solutions based on the market as it is today, not what it was in the past or what it might be months down the line."