Bank of England cuts interest rates as borrowing costs to fall

NAMPA / DPA

2024-11-07

London (PA Media/dpa) - UK interest rates have been cut for the second time this year, as the Bank of England forecast a "gradual" reduction in borrowing costs despite uncertainty following the autumn budget. The Bank's Monetary Policy Committee (MPC) announced that rates were being reduced from 5% to 4.75% on Thursday. Governor Andrew Bailey said UK inflation falling below its 2% target meant policymakers had been able to cut rates to the lowest......

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