Bank of England interest rate decision confirmed – what it means for you
THE Bank of England has cut interest rates for the first time since 2020.
At the Monetary Policy Committee’s (MPC) meeting today, ratesetters at the BoE reduced the base rate from 5.25% to 5%.
AlamyThe Bank of England has dropped its base rate to 5%[/caption]The decision to cut rates was finely balanced with five members, including Governor Andrew Bailey, outvoting four Bank members who wanted to keep rates higher for longer.
The Bank’s chief economist Huw...
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