Bank of England Governor Andrew Bailey holds a news conference interest rate cut

[@Liamphotos]

A lot of people are wondering how this could impact their savings, investments, and financial stability. The prospect of a rate cut is usually a mixed bag: while it can make borrowing cheaper, it often means lower returns on savings accounts and potentially more volatility in investment markets

[@andrewfoster5008]

Service sector inflation has interest rates as a potential lag driver. Many segments such as insurance, utilities, property services directly base their annual price increases based on current interest rates rather than inflation. E.g OFWAT and OFGEM allow cost of capital adjustments to be made to price controls. many service sector segments have become heavily indebted during the multi decade period of low interest rates. Raised interest rates for these businesses,counterintuitively, add to cost push inflation. Potentially creating a secondary cycle of inflation.

[@johnboy8505]

Should of kept interest rates the same …wait and see how labour’s budget effects the uk

[@rodneyhenchliffe754]

Summary: Endless higher inflation and endless austerity with over taxation for ordinary working people, this is the cost of insane inequality with wealthier people growing their wealth on steroids and governments leveraging through borrowing.

[@mustaphakijera6876]

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