What the latest inflation news means for your mortgage and savings

Inflation stayed steady at 4 per cent in January, raising hopes of an interest rate cut by the Bank of England sooner than anticipated.
The rate hasn’t changed since it unexpectedly increased to 4 per cent in December, according to official data from the Office for National Statistics, which compiles the consumer prices index (CPI) figure based on the price of a basket of goods.
Inflation was fuelled by household and energy price increases.
It is likely to boost hopes that the Bank will cut its 5.25 per cent base rate this year and ease pressure on housesholds. Here’s what the latest figures mean for mortgage rates and savings.
Banks and building societies reduced mortgage rates at the beginning of the year as they competed
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