Reported about 9 hours ago
In a recent decision, the Bank of England reduced its benchmark interest rate to a 19-month low of 4.5%, marking the third cut since August. The Monetary Policy Committee indicated a cautious approach to future rate adjustments, forecasting only two more cuts needed to meet the 2% inflation target. While some policymakers pushed for a more significant cut, the overall outlook highlights rising inflation concerns and a downgraded growth forecast. This decision reflects the ongoing economic uncertainty and challenges ahead.
Source: YAHOO