06 Feb 2025 | 12:03
Bank of England cuts rates to 4.5%
(Sharecast News) - The Bank of England trimmed interest rates by a quarter point on Thursday, as widely expected.
The Monetary Policy Committee voted to cut the cost of borrowing to 4.5% by a majority of 7 to 2. The two members who voted against the 25 basis point cut argued instead for a bigger 50bps reduction.
The MPC last reduced rates in November.