Bank of England cuts interest rates to 4.5% but halves growth forecast
MPC votes 7-2 for third quarter-point cut in six months but Bank airs fears over rising prices and UK economic outlookThe Bank of England has cut interest rates to 4.5%, but warned UK households face renewed pressure from rising prices and a sluggish economy as it halved its growth forecasts for the year.With the government under pressure amid the fallout from Labour’s budget and Donald Trump’s trade wars, the Bank’s monetary policy committee (MPC) voted by a majority of seven to two to reduce its key base rate down from 4.75% to ease some of the financial pressure on borrowers. Continue reading...
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MPC votes 7-2 for third quarter-point cut in six months but Bank airs fears over rising prices and UK economic outlook
The Bank of England has cut interest rates to 4.5%, but warned UK households face renewed pressure from rising prices and a sluggish economy as it halved its growth forecasts for the year.
With the government under pressure amid the fallout from Labour’s budget and Donald Trump’s trade wars, the Bank’s monetary policy committee (MPC) voted by a majority of seven to two to reduce its key base rate down from 4.75% to ease some of the financial pressure on borrowers. Continue reading...
