UK Consumer Confidence Rises Amid BoE Rate Cuts
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BTCCSquare news:
UK consumer sentiment has surged to its highest level since December, defying analyst expectations. The GfK Consumer Confidence Index climbed three points to 5 this month, reflecting growing Optimism about household finances. Broader economic confidence also improved, with the overall index rising two points to -17.
The uptick follows the Bank of England's decision to lower borrowing costs from 16-year highs. Mortgage rates have begun declining, offering relief to prospective homebuyers. Market observers note this marks the most positive consumer outlook since August 2023, signaling approval of the central bank's monetary policy shift.
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