Bank of England cuts rates for first time since 2020
Thursday, 1 August 2024 LONDON - The Bank of England cut interest rates from a 16-year high on Thursday after a tight vote by policymakers who were split over whether inflation pressures had eased sufficiently.
The Bank of England has cut interest rates to 5% at its August Monetary Policy Committee meeting, the first reduction of the UK’s base rate in four years. Responding to the cut, Chancellor of the Exchequer Rachel Reeves said: “Homeowners will welcome this cut in interest rates, but I know that...
Thursday, 1 August 2024
