Interest Rates Uk Forecast 2024. The bank of england made the first cut to interest rates in four years in august 2024, giving hope to mortgage holders that the borrowing squeeze is coming to an end. The base rate rose from 0.1% to over 5% between december 2021.
But how low are they expected to go, and what will be the likely impact on savers and borrowers over the next few years? What will happen to the bank rate in 2024?