Bank of England restarts monetary easing, cutting key rate to 4.5%
- The Bank of England cut its main interest rate by a quarter of a percentage point to 4.50%, marking its lowest level since mid-2023, as reported by the bank in a statement Thursday.
- Most economists anticipated this cut despite inflation remaining above the target at 2.5%, according to the Monetary Policy Committee's analysis.
- The Labour Government, led by Prime Minister Keir Starmer, prioritizes economic growth to improve living standards and public services funding, as stated by Treasury Chief Rachel Reeves.
- Bank Governor Andrew Bailey expressed that the Bank will monitor the U.K. Economy closely and take a careful approach to further rate reductions.
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Total News Sources0
Leaning Left12Leaning Right7Center15Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 35%
C 44%
R 21%
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