Just Mortgages comments on BoE MPC decision
07 August 2025
John Phillips, CEO of Just Mortgages and Spicerhaart, said:
“It’s great to see the central bank putting the economy ahead of inflation when making today’s decision. While inflation has risen and is nearly double target, it importantly remains well within the bank’s broader forecast, which has long predicted a peak in Q3 before beginning to come back down. With a hold last month, the bank doesn’t have to stray too far from its gradual approach and critically gives the UK economy the adrenaline shot it so desperately needs.
“There’s no doubt that many lenders will have already factored this into their pricing, but it remains a powerful piece of good news for brokers to be sharing with potential clients. Lenders have been staying competitive, all while continuing to innovate and seize opportunities to increase access and improve affordability. While we’ve certainly seen some bold rate predictions for the rest of the year and beyond – with some predictions of three more cuts – I’m hopeful this isn’t the last one we’ll see this year as inflation hopefully turns a corner and the central bank prioritises the health of the economy.”