© 2020 – 2023 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
News

Bank of England cuts interest rates to 4.5% amid fears over weak UK growth

Third quarter-point cut in six months takes rate to lowest level since June 2023 amid concerns over economic outlook

The Bank of England has cut interest rates to 4.5%, but warned UK households face renewed pressure from rising prices and a sluggish economy as it halved its growth forecasts for the year.

With the government under pressure amid the fallout from Labour’s budget and Donald Trump’s trade wars, the Bank’s monetary policy committee (MPC) voted by a majority of seven to two to reduce its key base rate down from 4.75% to ease some of the financial pressure on borrowers.

Continue reading…

Related posts

Wednesday briefing: Warning over escalation of Israel-Gaza violence

AEA3

Bumper BP profits reignite debate over tougher windfall tax

AEA3

Mexico: 200 pairs of shoes found at clandestine crematorium

AEA3

Pin It on Pinterest

Share This