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Chancellor welcomes interest rates cut

Video Credit: ODN - Duration: 00:23s - Published
Chancellor welcomes interest rates cut

Chancellor welcomes interest rates cut

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 millions of people are still paying higher mortgage rates after the Conservatives mini-budget.

Report by Covellm.

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