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From: Denc 🗡 |
These cretins are definitely part of the problem…..
Bank of England cuts interest rates for first time in four years Policymakers vote by a majority of five votes to four to reduce rate from 16-year high
The Bank of England has cut interest rates for the first time since 2020 in a post-election boost for Sir Keir Starmer.
Policymakers voted by a majority of 5-4 to lower rates to 5pc from 5.25pc in a “finely balanced” decision that saw Governor Andrew Bailey cast the deciding vote.
In another boost for Labour, the Bank more than doubled its growth forecast for this year to 1.25pc from 0.5pc, following a strong start to the year for the economy.
However, Mr Bailey cautioned that policymakers were wary of cutting rates “too quickly or by too much” as he warned the fight against inflation was not over.
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