Interest Rate Cuts 2024 Uk. 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. The bank of england has cut rates to 5%, marking the first drop since march 2020, which is likely to lead to lower mortgage repayment deals.

The remaining three expected only one cut. We expect the boe to make two cuts by the end of 2024 as the headline rate of inflation hovers around the two per cent target.