Movera comment on today's inflation rise

18 December 2024

Nick Hale, CEO of Movera, commented:

“There is little festive cheer in today’s figure which marks the second consecutive month that inflation has risen. Driven by higher energy costs and services inflation, the figure is even further adrift from the Bank of England’s target. Christmas is unlikely to come early on Thursday either, as the Bank of England’s Monetary Policy Committee is predicted to hold off on lowering interest rates.

“It would be good to think that the rise is a temporary blip. But there are too many unknowns, including the longer term impacts of the Government’s Budget which has so far rattled business confidence. What is certain is that we are still in the midst of a housing crisis. To give homebuyers a much-needed confidence boost, we can only hope that the Bank of England’s New Year resolution will be to lower interest rates as soon as it can. As ever, our focus at Movera will be on providing fast and reliable services for those looking to move or remortgage this year.”