FTSE 100: London stocks jump and pound slides after Bank of England cuts interest rates
Thursday, 1 August 2024 London stocks jumped this afternoon and the pound hit a one month low after the Bank of England moved to scale back interest rates from a 16-year high at its latest monetary policy meeting.
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...
Thursday, 1 August 2024
London stocks jumped this afternoon and the pound hit a one month low after the Bank of England moved to scale back interest rates from a 16-year high at its latest monetary policy meeting.
