MPC interest rates comment from Mark Tosetti, Partnerships Director at Movera

Mark Tosetti, Partnerships Director at Movera commented: “As widely predicted the Monetary Policy Committee (MPC) have not rocked the boat and opted for a second successive pause.

“Perhaps the decision was not to take any chances, especially after the US Federal Reserve's decision to keep rates unchanged yesterday, and the end of a year of rate hikes by the European Central Bank (ECB).

“The markets remain optimistic, buoyed by a recent drop in 2- and 5-year swap rates, but customer affordability needs to loosen in order to unlock greater product choice across the market.”

Published: 02 November 2023