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The Bank of England has held interest rates at 5% following its cut last month, with forecasters predicting a further drop by the end of the year. The Bank of England’s governor, Andrew Bailey said: ‘Inflationary pressures have continued to ease since we cut interest rates in August. The economy has been evolving broadly as we expected. If that continues we should be able to reduce rates gradually over time but it is vital that inflation stays low, so we need to be careful not to cut too fast or by too much’.
UK inflation stuck at 2.2% in August, above the Bank’s 2% target, with a rise in both core inflation and services inflation.
Essential Wealth Management
1-2 Great Farm Barns
West Woodhay
Newbury
Berkshire RG20 0BP
Tel: 01488 669840
Fax: 01488 669216
Email: [email protected]
Essential Wealth Management is a trading name of Essential Wealth Management and Advice Ltd which is an appointed representative of 2plan wealth management Ltd which is authorised and regulated by the Financial Conduct Authority. Essential Wealth Management and Advice Ltd is entered on the FCA register (www.FCA.org.uk) under no. 518528. Registered office: 1-2 Great Farm Barns, West Woodhay,Newbury, Berkshire RG20 0BP. Registered in England and Wales Number: 04020006.
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