Interest Rates 2024 Prediction. Uk interest rates were cut on 1 august 2024 for the first time since 2020, bringing relief to many households and businesses struggling with higher mortgage costs and debt repayments. September 13, 2024 at 7:00 am edt.
Though federal reserve chair jerome powell announced another rate hike today, we think the fed is done after this, and we expect steep interest rate cuts in 2024. Inflation continued to recede in august, paving the way for the federal reserve to lower interest rates for the first time since early 2020 at their meeting next week.