Today’s Bank of England MPC bank rate announcement: comment from Katie Pender, managing director of Target.

Following today’s Bank of England MPC bank rate announcement, please find below a comment from Katie Pender, managing director of Target.

Katie Pender, managing director of Target, said: “No surprises today as the Bank of England played safe and held the bank rate at 5.25% for the fifth consecutive month while it waits for inflation to drop further. Borrowers will no doubt be pinning their hopes on cuts later in the year. In the meantime, it would be good to see some stability with mortgage rates themselves which are currently shifting at an almost unprecedented speed. But, with a General Election on the cards and a potential change in Government, all is clearly not plain sailing. We will continue to work to support lenders and borrowers with the latest technology which is essential to speeding up decision-making and improving customer satisfaction.”

Published: 21 March 2024