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Interest rates expected to fall later this week

A quick look at the currency markets will confirm the worst fears of savers in the UK, with interest rates set to fall later this week. The currency markets are already factoring in a fall of up to 1% although there is some speculation we may see a 1.5% cut. This should be relatively good news for the UK economy and the mortgage market although there is some doubt as to whether the savings will be passed on as quickly as many would like.

This is the next stage of a multi pronged attack on the UK economy in an attempt to refloat and reinvigorate the economy and the UK consumer. When inflation was riding high in recent months the interest rate reduction option was not available but with inflation now seemingly on the way down there is scope for further interest-rate reductions. It will be interesting to see if the move materialises and what comments the Bank of England attach to the situation.

It seems as though the UK economy has had the short sharp shock of the multibillion pound banking rescue package and now we are seeing a number of policies and initiatives being drip fed into the market to try to improve sentiment.

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