finova Broker comment on the BoE’s base rate decision "a step in the right direction"
01 August 2024
Please find below, comment on the BoE base rate announcement from Matt Harrison, Director of Sales for finova Broker.
"Today's decision by the Bank of England to reduce the base rate to 5% is a welcome move for both businesses and consumers alike. In the current climate, this reduction offers much-needed relief and the potential to stimulate growth. For our members, lower borrowing costs can invigorate the market, drive more volume, and utilise technology to drive efficiencies as the market gains confidence.
"The decision along with the recent General Election marks a step in the right direction towards fostering a more resilient market. It is important now to leverage this opportunity providing reliable services to help our clients navigate the evolving financial landscape."
