UK inflation dropped sharply to 4.6% in October, the lowest since August 2022.
This eases the pressure on the Bank of England on maintaining high interest rates. Morgan Stanley is now forecasting a rate cut in 2024, as inflation is expected to fall below the Bank’s 2% target by then.
The drop in inflation and the prospect of lower interest rates could stimulate the demand for borrowing.
This could be great news for private credit as we move into the new year
What are your thoughts on how these economic shifts might impact businesses in 2024?
All lenders willing to share their views are welcome to a breakfast session organised by kennek early next year in London.
Please contact us if you would you like to join us and receive more information!
hello@kennek.io