Interest Rate Cuts 2024 Uk 2024. Uk inflation slowed to 2% in may, falling to the bank of england’s target for the first time in nearly three years as food price rises eased sharply. The bank of england made the first cut to interest rates in four years in august 2024, giving hope to mortgage holders that the borrowing.

The big question of 2024 for the bank is: Current bank rate 5% next due: