US EditionBank 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.
159 Articles
159 Articles
Bank of England Cuts Interest Rates to 4.5 Percent as It Downgrades Growth Forecast
UK interest rates have fallen to 4.5 percent after the Bank of England voted to cut borrowing costs, as it also slashed short-term growth forecasts for the economy. The Bank’s Monetary Policy Committee (MPC) voted for a quarter-point reduction after similar cuts in August and November last year, bringing the base rate to its lowest point since June 2023. Governor Andrew Bailey said the cut will be “welcome news to many” but that the bank is “mon…
Bank of England set to cut interest rate
London, United Kingdom — The Bank of England was widely expected to cut its key interest rate on Thursday to help support weak British growth even if UK inflation stays elevated. At its first rate meeting of the year, the BoE is forecast to reduce borrowing costs by a quarter point to 4.50 percent according
Financial Times
Bank of England halves growth forecast and cuts rates to 4.5%
Revised economic forecasts are blow to Labour but buoy stock market and gilts
castanet.net
Bank of England cuts key UK interest rate to 4.50% as economy stagnates
The Bank of England has cut its main interest rate for the third time in six months with the British economy struggling to post any meaningful growth. In a statement Thursday, the bank said the nine-member Monetary Policy Committee lowered its main interest rate by a quarter of a percentage point to...
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