Industry calls for an interest rate drop of 5% from Bank of England

The monetary policy committee will have its next meeting on 20 June

Hope Coumbe
clock • 1 min read

The vast majority (74%) of the financial planning industry would like to see interest rates drop 5% next month, Professional Adviser finds.

The latest PA Asks poll called on advisers and financial planning professionals to vote on what should happen to interest rates at the next Bank of England (BoE) monetary policy committee (MPC) meeting. Almost three quarters (74%) of respondents said they would like to see rates drop, while only 18% said they wished to see rates remain at the current 5.25%. Additionally, 5% of respondents said rates should move to 5.5%, while 3% were unsure of what they wanted to see happen. "Wait until inflation is steady," opined one. "Then look to reduce rates gradually from September." Anoth...

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