Quarter-point reduction from highest level since financial crisis should ease pressure on households and businessesThe Bank of England has cut interest rates for the first time since the start of the Covid pandemic, easing some pressure on households and businesses struggling in the cost of living crisis.In a decision that financial markets had expected to be a close call, the central bank’s monetary policy committee voted by a majority to trim the base rate by a quarter-point to 5%. Continue reading…
Source link : https://www.theguardian.com/business/article/2024/aug/01/bank-of-england-cuts-interest-rates
Author : Richard Partington Economics correspondent
Publish date : 2024-08-01 11:00:45
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Bank of England cuts interest rates to 5% in first reduction since March 2020
