Will the Bank of England cut interest rates again?

Despite cutting interest rates last month, the Bank of England is not expected to do so again on Thursday (tomorrow). The rate-setter must navigate multiple challenges, including tariffs impacting a contracting UK economy, rising Middle East tensions, slowing wage growth, and significant government spending. Inflation is also a key concern, with May’s CPI remaining at 3.4%, significantly above the 2% target. Forecasts predict inflation will rise to 3.7% before easing back down by early 2026. A cut in August is expected, although one expert’s view is that the Bank of England should hold firm...