Will Interest Rates Be Cut In 2024 Uk. It is too early to speculate about when uk interest rates will be cut,. Uk interest rates were cut on 1 august 2024 for the first time since 2020, bringing some mild relief to households and businesses struggling with higher mortgage costs and debt repayments.

The bank of england is expected to keep interest rates at 5.25 per cent. 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.