UK rents soar as high interest rates hit property market – business live

Rolling coverage of the latest economic and financial news

Goldman Sachs has lowered its forecast for peak UK interest to 5.5%, meaning one more increase – this Thursday.

Goldman economists now believe that Bank of England will then leave interest rates on hold at the next meeting in November, rather than hiking again to 5.75%.

“Looking ahead to the November meeting, we see a greater chance that sequential wage and price pressures will have cooled sufficiently to allow the MPC to go on hold, given their preference for a flatter peak.”

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