The UK economy grew 0.7% between July and September, up from 0.5% the quarter before. That was in line with forecasts.
It lands a week after the Bank of England raised the base rate to 4%, the first rise since August 2023. Inflation is 3.5%, well above the 2% target.
What it means for rates
Nobody knows what the Bank will do on 17 December. But an economy that’s growing, with inflation above target, gives it little reason to cut. Anyone planning around rates falling soon should think again.
What it means for advisers
Clients on tracker and variable rates are already paying more, and they’ll want to talk.
Clients with a fixed rate ending in the next six months need a call now.
Protection matters more when monthly payments rise. It’s a natural part of the same conversation.
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