In a fairly sudden change of approach, several major banks are now predicting that the Bank of England will cut interest rates this week down to 3.75 per cent. The MPC’s next meeting comes on Thursday 6 November and, up until only a few weeks ago, few if any thought there would be a cut pre-Budget – most didn’t expect one until 2026. But the combination of fewer jobs vacancies as companies cut back on hiring, and inflation unexpectedly flattening out in September, now has the like of Barclays and Goldman Sachs believing that a split vote will result in a November cut in a boost to mortgage seekers. Meanwhile, the price of oil has pushed higher as Opec pauses its output hikes, while gold has crept back above $4,000 after a steep recent decline. Follow The Independent’s live coverage of the latest stock markets and business news here: Financial influencers have built up a strong follower base in recent years, sharing a range of tips on social media, but there are concerns that people could lose money by following their advice.
Published: November 3, 2025 4:21 pm
Source: The Independent — Read original