Phoebus comment on BoE rate decision
20 March 2025
Richard Pike, chief of sales and marketing at Phoebus Software, says:
"The Bank of England's decision to hold the base rate at 4.5% was widely expected and reflects a prudent approach as inflationary pressures persist and economic uncertainty remains. While some in the property sector may have hoped for a rate cut to stimulate activity, maintaining the current rate underscores the importance of long-term stability over short-term gains and reflects the Bank’s longer-term goal for a normalised interest rate of around 3.5% by mid-year.
"With next week’s Spring Statement on the horizon, all eyes will be on the Chancellor to see if any measures are introduced to alleviate cost of living pressures, stimulate growth and support homeowners, buyers, and the wider housing market."
