Bank of England set for second cut after Labour reveals tax-hiking budget

The Sweden’s Riksbank has cut interest rates by 50 basis points, signaling more cuts to come in the future. The UK’s bond yields slipped ahead of the Bank of England’s rate decision, while the pound ticked up despite expectations of an interest rate cut. The US Federal Reserve is also expected to cut rates by 25 basis points. In the UK, inflation has sharply declined, leading to expectations of a rate cut. Britons are facing higher mortgage rates despite expectations for a base rate cut, with some lenders already raising borrowing costs.