BoE rate cut adds to sense of turnaround in sluggish UK economy

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BoE rate cut adds to sense of turnaround in sluggish UK economy

By William Schomberg LONDON (Reuters) – The Bank of England’s first interest rate cut in more than four years will help to foster a cautious sense of optimism about Britain’s long-struggling economy, but the scale of the growth challenge facing the new government remains huge. The BoE lowered its benchmark rate to 5.0% on Thursday, from a 16-year high of 5.25%, offering a bit more relief to households and businesses who are emerging from the…