Movim • Bank of England cuts interest rates by 0.25 points to 4.75%

Th chevron_right

Bank of England cuts interest rates by 0.25 points to 4.75%

news.movim.eu / TheGuardian • 7 November 2024

Borrowing costs reduced for second time this year and Fed expected to cut US rates later today

The Bank of England has cut interest rates for a second time this year in a closely watched decision following the UK government budget and Donald Trump’s election as US president.

In a decision widely expected in financial markets, the Bank’s monetary policy committee (MPC) voted by a majority to reduce the base rate from 5% to 4.75%.