Interest Rates 2024 Uk Time. Interest is what you pay for borrowing money, and what banks pay you for saving money with them. Economists widely expected a rate hold at the december meeting, as policymakers remain concerned with stubborn services inflation and wage growth.
Bear in mind that the numbers and the path for rates you see here are only indicative. According to recent forecasts, the uk interest rates graph is expected to show a decline to between 4% and 5.25% by the end of 2024, as the boe balances inflation control with economic growth concerns.