Bank of England cuts interest rates to 4.5% and halves UK growth forecast
Latest quarter-point reduction comes with warning households face inflation of 3.7% by autumnUnambiguously bleak forecasts pave way for spending cutsWhat does the rate cut mean for mortgages and savings?Business live – latest updatesThe Bank of England has cut interest rates to 4.5%, as it halved its UK growth forecasts for the year and warned households would face renewed pressure from rising prices.With the government under fire over the sluggish economy, the Bank’s monetary policy committee (MPC) voted by a majority of seven to two to reduce its key base rate, down from 4.75%, to provide some financial relief to borrowers. Continue reading...
Latest quarter-point reduction comes with warning households face inflation of 3.7% by autumn
- Unambiguously bleak forecasts pave way for spending cuts
- What does the rate cut mean for mortgages and savings?
- Business live – latest updates
The Bank of England has cut interest rates to 4.5%, as it halved its UK growth forecasts for the year and warned households would face renewed pressure from rising prices.
With the government under fire over the sluggish economy, the Bank’s monetary policy committee (MPC) voted by a majority of seven to two to reduce its key base rate, down from 4.75%, to provide some financial relief to borrowers. Continue reading...
