Market Insight
October 2024 Economic and Market Report
This Article was Written by: Chris Proudfoot - Fundhouse
Economic & Market Report, Market Report
In October, we learned that consumer price inflation in the UK had dropped to 1.7% in the last 12 months, down from a reading of 2.2% in both September and August.
This reduction is significant, as it takes the rate below the Bank of England’s 2% inflation target. Interest rates had remained at 5% since August, but the ease in inflation opened the door for the Bank’s Monetary Policy Committee to consider rate cuts during its 7th November meeting (which it has since used to cut rates by 0.25%).… economic and market commentary is available to Financial Advisers via our support site. Please register/login here.
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