Bank of England Cuts Interest Rate to Boost Economy

The Bank of England cuts its main interest rate for the first time in four months, signaling potential easing of high inflation. The base rate was lowered by a quarter of a percentage point to 3.75%, its lowest level since February 2023. This move follows new data showing consumer price inflation slowed to 3.2% in November, lower than the Bank of Englands forecast. The rate cut aims to boost Britains stagnant economy, but the Monetary Policy Committees vote was close, with some members prioritizing the fight against inflation.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.