London, Nov 7, 2024 (AFP) - Bank of England cuts interest rate as inflation slows

NAMPA / AFP

2024-11-07

The Bank of England on Thursday said it was cutting its key interest further after UK inflation hit a three-year low and signalled more reductions. As widely expected, the BoE trimmed borrowing costs by 25 basis points to 4.75 percent at a regular policy meeting, its second reduction since August. The US Federal Reserve is set to reduce rates later in the day. "We have been able to cut interest rates again" after UK annual inflation fell below th......

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