Don't bank on rates cut, warn experts with BoE set to hold

MORTGAGE rates are rising rather than falling, and the trend looks set to continue, with the Bank of England (BoE) almost certain to hold rates at 3.75% tomorrow.

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Policymakers are wary about further cuts after inflation surprisingly climbed to 3.4% in December, up from 3.2% in November.

Laith Khalaf, head of investment analysis at AJ Bell, said the BoE cut rates in December, but we may have to wait until April for the next one: “It could take even longer as inflationary fears linger.”