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Bank of England cuts interest rates for first time in four years

Invezz Thursday, 1 August 2024
Bank of England cuts interest rates for first time in four yearsIn a closely contested decision, the Bank of England has cut interest rates for the first time in over four years, providing a potential boost to the Labour government’s efforts to stimulate economic growth. The Monetary Policy Committee (MPC) voted five to four on Thursday to reduce the bank’s key rate by a quarter of […]
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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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