Rate cuts by more than 20 banks following the BoE move risk pushing savings returns below inflation.
Economists said the Q2 GDP surprise reduces pressure for rapid follow-up cuts after August’s split decision.
The UK economy expanded by 0.3% in Q2 2025, outpacing expectations and easing recession fears.
The pound strengthened this week as traders priced Fed easing and reassessed BoE cuts after resilient UK growth.
Surveyors reported improved buyer enquiries and stabilising prices in July, hinting that BoE easing is feeding through.
FX markets eyed UK jobs and pay data after the BoE’s split cut, with sterling consolidating recent gains.
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