Published: 03/01/2024 By Andrew Greenwood
Interest rates will be cut at least twice this year, and house prices will jump up 5%, according to leading economists.A poll of 41 economic experts by The Times showed most predicted two reductions in the Bank of England base rate, while nearly half actually said there would be three or more cuts.
The base rate currently stands at 5.25% after the Bank’s monetary policy committee held it there three times in a row last year, and the Bank’s governor Andrew Bailey has warned it is too early to consider any reductions.
But only two economists in the survey said the Bank would leave the base rate at its present level.