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Comment from Phoebus on inflation sticking at 2%: "great for borrowers and lenders"
17 July 2024
Richard Pike, chief sales and marketing officer at Phoebus, said: “No change in the core inflation rate is great news for borrowers and lenders, as it will hopefully encourage the Bank of England to cut interest rates in August – despite services rates remaining fairly high.
“This will help reduce costs and stimulate the property industry and the economy in general. It will also support our new government’s growth plans – particularly around house building – that we will hear more about at the opening of parliament later today.
“I suspect, however, that by the end of the year we’ll see a slight rise again in inflation - but then it will hit a downward spiral again during 2025.”
