Reported 2 months ago
The Bank of England (BoE) has reduced interest rates to 5% for the first time since increasing rates from a historic low in December 2021. The decision aims to alleviate financial pressure on mortgage holders and businesses following a significant drop in inflation. While the BoE recognizes the need for careful management to sustain low inflation, analysts suggest that the actual impact may be limited for many consumers facing tighter financial conditions.
Source: YAHOO