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What Bank of England interest rate cut means for spending, savings and mortgages

Tamworth Herald Thursday, 1 August 2024
What Bank of England interest rate cut means for spending, savings and mortgagesHow the decision to slash interest rates will affect your household budget including spending, savings and mortages.
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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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