Reported 2 months ago
The Bank of England has cut interest rates for the first time since 2020 in a closely contested 5-4 vote, lowering the benchmark to 5%. This move is intended to provide some relief to households after a year of high borrowing costs. However, there is no indication of when further cuts might occur, and officials have emphasized a cautious approach moving forward, citing ongoing inflation risks and a need for careful monitoring of economic conditions.
Source: YAHOO