UK interest rates to fall more slowly than expected after budget, claims report

The OECD's annual economic survey indicates that UK inflation will exceed prior estimates for next year, driven largely by the substantial public spending boost in October's budget.

Despite a slight downgrade in GDP growth for the current year to 0.9%, the OECD predicts a recovery with a 1.7% growth rate next year, supported by increased public expenditure.

Interest rates, currently at 4.75%, are projected to decrease to 3.5% by early 2026, although this decline is less sharp than earlier predictions due to heightened consumption.

The OECD remarks on the resilience of the global economy, forecasting a 3.2% growth this year, driven by various international dynamics, despite elevated risks and uncertainties.

Read at www.theguardian.com