UK interest rates expected to rise due to services sector growth

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UK interest rates expected to rise due to services sector growth
The Bank of England is expected to increase interest rates after a survey showed the UK services sector reached an eight-month high in activity. Growth was driven by spending on artificial intelligence and recovery from the impact of the Iran war.
Why it matters: Higher interest rates will affect mortgage and loan rates, influencing borrowing costs for consumers and businesses.
Sources: BBC Business · The Guardian Business

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