Reported 3 months ago
The Bank of England is contemplating its first interest rate cut since the early days of the COVID-19 pandemic, currently holding a rate of 5.25%. As inflation meets the target rate of 2%, economists are divided on whether a quarter-point cut will happen this Thursday or be postponed until September due to lingering concerns about inflation in the services sector. Critics argue that the bank's cautious approach could unnecessarily hinder economic growth.
Source: YAHOO