Bank of England cuts main interest rate by a quarter-point to 4.75% after UK inflation falls
The bank said its rate-setting panel lowered the benchmark rate to 4.75% — its second cut in three months — though its governor
“We need to make sure inflation stays close to target, so we can’t cut interest rates too quickly or by too much,” he said. “But if the economy evolves as we expect it’s likely that interest rates will continue to fall gradually from here.”
In the year to September,
Central banks worldwide dramatically increased borrowing costs from near zero during the coronavirus pandemic when prices started to shoot up, first as a result of supply chain issues built up and then because of Russia’s full-scale invasion of
As inflation rates have recently fallen from multi-decade highs, the central banks have started cutting interest rates. The
Economists have warned that worries about the future path of prices following last week's tax-raising budget from the new
The decision comes a week after
The rate decision also comes a day after Trump was declared the winner of the
Amendment to Annual Report by Foreign Issuer Form 20 F/A
Forex Today: US Fed, Bank of England Both Expected to Cut Rates by 0.25% – 07 November 2024
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