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 for the third time in six months amid concerns over weak economic growth, underscoring the risks facing the chancellor, Rachel Reeves.
In a closely watched decision, the central bank’s rate-setting monetary policy committee voted by a majority to reduce its key base rate from 4.75% to 4.5% – its lowest level since June 2023 – after a slowdown in economic activity in the second half of last year.
Continue reading… The Guardian Read More Third quarter-point cut in six months takes rate to lowest level since June 2023 amid concerns over economic outlookThe Bank of England has cut interest rates for the third time in six months amid concerns over weak economic growth, underscoring the risks facing the chancellor, Rachel Reeves.In a closely watched decision, the central bank’s rate-setting monetary policy committee voted by a majority to reduce its key base rate from 4.75% to 4.5% – its lowest level since June 2023 – after a slowdown in economic activity in the second half of last year. Continue reading…
