Bank of England cuts interest rates to 5% in first reduction since March 2020

Bank of England lowers its main interest rate by 0.25%, to 5%, its first cut in over 4 years

The Bank of England has cut interest rates for the first time since the onset of the COVID-19 pandemic in early 2020 as inflationary pressures in the economy have eased.

Bank of England cuts interest rate to 5%

Good news for homeowners with mortgages as interest rates have been cut for the first time in more than four years. The Bank of England reduced them to 5% from 5.25% where they’d been held since last August. Economics Correspondent Helia Ebrahimi caught up with the Governor of the Bank of England, to ask him why rates have finally come down.

Bank of England cuts rate for first time since pandemic

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Bank of England right to be cautious after cutting interest rates

At long last the Bank of England has cut interest rates, but investors should not convince themselves that multiple interest rate cuts are now on the way. The decision to reduce the Bank Rate by 25 basis points was, as many commentators have suggested, a hawkish cut and the headline decision obscures a deep debate about the likely stubbornness of inflationary pressures in the months and years ahead. These debates are reflected in a new framework…

Bank of England lowers main interest rate to 5%, its first cut for over 4 years

Inflation in the U.K overall has already hit the bank’s target of 2%.

In a first since pandemic, Bank of England lowers key interest rates

The Bank of England, in a statement, said its policymaking panel backed a quarter-point reduction in its main interest rate to 5 per cent, from the 16-year high of 5.25 per cent