The i - Interest rates could fall faster to limit tariff damage, cutting mortgage costs
UK interest rates could fall faster than previously expected as a result of Donald Trump’s tariff blitz, economists have said. In a speech on Wednesday, the US President announced he would impose trade taxes on more than 180 countries and territories, including the UK.
Aaron Strutt of brokers Trinity Financial told The i: “As we have seen many times before mortgage rates can change pretty quickly when there is economic uncertainty and the money markets get spooked.
“With so many borrowers opting for two year fixes rather than longer term fixes there is clearly a consensus that rates will get cheaper soon. The Bank’s MPC know they will need to do something to make the cost of borrowing cheaper if Trump’s tariffs start to hit our economy.”
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