Bank of England Poised for Rate Cut Amid Fiscal Challenges
The Bank of England is expected to cut interest rates by 25 basis points to 4.75% following Labour's tax-hiking budget, which could delay further cuts due to potential inflationary pressures. Despite a sharp drop in inflation to 1.7%, the government's fiscal plans have raised concerns about future growth and inflation, affecting mortgage rates and borrowing costs. Meanwhile, the U.S. Federal Reserve and Sweden's Riksbank are also set to cut rates, reflecting a global trend in monetary policy easing.