Interest rates to fall more slowly than expected after Budget
The projections are partly linked to higher-than-expected inflation, with the OECD predicting headline inflation of 2.7% for next year.
The projections are partly linked to higher-than-expected inflation, with the OECD predicting headline inflation of 2.7% for next year.
What happens next to interest rates could be affected by how Donald Trump behaves in power, writes ITV News' Business and Economics Editor Joel Hills.
It is the second reduction in rates this year and is the first time rates have been below 5% since June 2023.