{"id":11496,"date":"2026-07-03T21:02:32","date_gmt":"2026-07-03T21:02:32","guid":{"rendered":"https:\/\/second-home.uk\/?p=11496"},"modified":"2026-07-03T21:02:32","modified_gmt":"2026-07-03T21:02:32","slug":"bank-of-england-rules-out-interest-rate-cuts","status":"publish","type":"post","link":"https:\/\/second-home.uk\/?p=11496","title":{"rendered":"Bank of England rules out interest rate cuts"},"content":{"rendered":"

Bank of England Governor Andrew Bailey has stated that interest rate cuts remain \u201coff the table\u201d, dampening expectations within the property sector for near-term relief on borrowing costs.<\/p>\n

The announcement comes as the property industry had anticipated potential base rate reductions in the coming months to stimulate transaction activity amid ongoing political uncertainty.<\/p>\n

Political and economic headwinds<\/h2>\n

The property market continues to face challenges from geopolitical tensions in the Middle East, whilst speculation over a potential change in leadership at Number 10 has introduced additional uncertainty. Reports suggest that Andy Burnham, considered a likely successor as Prime Minister, may introduce changes to property taxation, creating further nervousness among market participants.<\/p>\n

\u201cThere was an expectation that we would cut rates this year. That was off the table in March, and it\u2019s off the table at the moment,\u201d Bailey said. He confirmed, however, that he had not supported an interest rate increase this year.<\/p>\n<\/p>\n

Current rate position<\/h2>\n

The Bank of England\u2019s Monetary Policy Committee voted 7-2 to hold interest rates at 3.75% for the fourth consecutive time last month. The decision was widely anticipated given inflation remains above the Bank\u2019s 2% target.<\/p>\n

Inflation currently stands at 2.8%, lower than previous months, which has eased pressure on the MPC to consider a rate rise. The decision to maintain rates has implications for landlords adjusting to regulatory changes<\/a>, whilst tax threshold changes are set to affect the majority of landlords by 2028<\/a>.<\/p>\n

Outlook<\/h2>\n

The MPC is scheduled to meet at the end of this month and again in September. Market analysts now consider the prospect of a rate cut at either meeting highly unlikely, suggesting that property market participants will need to adjust strategies accordingly in the absence of monetary policy support.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bank of England Governor Andrew Bailey has stated that interest rate cuts remain \u201coff the table\u201d, dampening expectations within the property sector for near-term relief on borrowing costs. The announcement comes as the property industry had anticipated potential base rate reductions in the coming months to stimulate transaction activity amid ongoing political uncertainty. Political and […]<\/p>\n","protected":false},"author":1,"featured_media":8093,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[2],"tags":[],"class_list":["post-11496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-second-home"],"yoast_head":"\nBank of England rules out interest rate cuts - Second Home<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.propertywire.com\/news\/bank-of-england-rules-out-interest-rate-cuts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of England rules out interest rate cuts - Second Home\" \/>\n<meta property=\"og:description\" content=\"Bank of England Governor Andrew Bailey has stated that interest rate cuts remain \u201coff the table\u201d, dampening expectations within the property sector for near-term relief on borrowing costs. 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