UK interest rate predictions fall as US and Iran agree two-week ceasefire

Markets now forecast one rate rise this year, down from two on Tuesday, although mortgage rates may not fall quickly Business live – latest updates City traders have cut their forecasts for UK interest rate rises this year, after the US and Iran agreed a two-week ceasefire . The money markets are now fully pricing in only one rise in UK interest rates by December, which would take the Bank of England’s base rate back up to 4%. On Tuesday, two rate rises were fully priced in, as Donald Trump thre