Interest Rate Uk Forecast 2024. The base interest rate dictates the rates set by high street banks and other lenders. They expect us rates to come down further in 2024, probably by another 0.5%.

Uk interest rates should be cut to 3.5% by the end of next year, the international monetary fund (imf) has recommended. The bank started raising rates in december 2021 and has kept interest rates at 5.25% since last summer in an attempt to slow the pace at which consumer prices.