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Alert: Bank of England lowers its main interest rate by 0.25%, to 5%, its first cut since for over 4 years

SeattlePI.com Thursday, 1 August 2024 ()
Bank of England lowers its main interest rate by 0.25%, to 5%, its first cut since for over 4 years.
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Video Credit: ODN - Published
News video: Chancellor welcomes interest rates cut

Chancellor welcomes interest rates cut 00:23

The Bank of England has cut interest rates to 5% at its August Monetary Policy Committee meeting, the first reduction of the UK’s base rate in four years. Responding to the cut, Chancellor of the Exchequer Rachel Reeves said: “Homeowners will welcome this cut in interest rates, but I know that...

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