MILLIONS of homeowners are set for a boost to their finances as interest rates are set to be cut this year. The Bank of England (BoE) has increased rates steadily for nearly two years now, with rates currently standing at 5.25%. 1 The Bank of England has increased rates steadily for nearly two years now, with rates currently standing at 5.25% The central bank has opted to hold rates at 5.25% twice in a row. At the beginning of 2023, interest rates stood at 3.5% . And financial markets are now betting that the BoE will launch a deep round of interest rate cuts this year amid the growing risk of a recession. The central bank was…
