City economists predict UK interest rates may not reach 4.75% by next summer

• Financial markets predict the Bank of England will raise UK interest rates by at least a full percentage point by next summer.
• City economists believe this prediction is incorrect and rates may not reach 4.75% by next summer.
• The Bank of England could potentially lower interest rates by the end of 2027.
• The European Central Bank (ECB) is expected to raise rates in December after a pause.
• The ECB is on course for another rate rise in 2026.