The IMF has also downgraded UK growth forecasts by 0.5%.

However, industry experts believe mortgage rates may remain stubbornly high.

However, the OBR has upgraded its forecasts for the following years.

Annual core CPI inflation eased to 3.5%.

A hold was widely expected today due to rising inflation and strong private sector wage growth.

Just 14% think that three more cuts before the end of 2025 is still realistic.

Inflation has now almost doubled since September, when it was 1.7%.

UK GDP has increased for the first time in three months.

Swap rates have been rising in recent weeks and concerns about persistent inflation is a key driver.

Inflation has increased for the second month in a row.