Related topic: Interest rates

Holding policy too tight for too long comes with costs to output and employment, which could then pull inflation below target, Breeden says.

The most significant percentage decline was seen in remortgage searches, which fell 12.7% compared with the weekly average.

Industry experts are now unsure whether another rate cut will come before the end of the year.

Typical mortgage payments have climbed by nearly half in the last five years. 

Industry experts are now divided on whether there will be a further cut to Bank Rate before the end of the year.

Rising inflation is also dampening the chances of another Bank Rate cut this year.

Mann says she stands ready for "forceful policy action" in the future.

Only 9% suggested there would be no more cuts from the MPC by February 2026.

Industry experts are now split on when the Bank of England will next cut interest rates.

GDP data provides some relief for Reeves ahead of the Autumn Budget, economists say.