Bank of England cuts rates but sees higher inflation

Bank of England cuts rates but sees higher inflation after Reeves's budget
"Despite big spending increases in last week's UK budget, the Bank of England has signalled ... If now-higher market interest rates were factored in, the outlook for inflation and growth would likely be a bit lower. The BoE said it stuck with its existing ...
Bank of England cuts UK interest rates again despite modest budget-related inflation spike
The Bank of England has cut its main interest rate by a quarter of a percentage point after inflation across the U.K. fell below its target rate of 2%
UK inflation hits 1.7%, lowest in three years as rates cut
BBC News reports that prices in the United Kingdom rose by 1.7% over the 12 months to September, marking the lowest rate in three and a half years. In October, the Bank of England indicated it might adopt a more aggressive stance in cutting borrowing costs if inflation remains manageable.
How will the interest rate cut affect you? From inflation to mortgages
Low interest rates are used to discourage people from piling up their money in savings. High interest rates encourage saving because people get a better return for the money you are putting away. This in turn has an effect on the price of goods.
Interest rates: Bank of England UK base rate cut explained - what BOE decision means for you and mortgages
The Bank’s Monetary Policy Committee (MPC) announced on Thursday (7 November) that the rate would drop from 5% to 4.75%. Governor Andrew Bailey said that since UK inflation is now below the 2% target, the Bank was able to reduce rates to their lowest level since June last year.
Bank Of England Cuts Interest Rate As Inflation Slows
The Bank of England on Thursday said it was cutting its key interest further after UK inflation hit a three-year low and signalled more reductions.
Interest rates live updates: Bank of England base rate cut to help slash mortgage bills
Following the Bank of England’s decision to cut the base rate, chancellor Rachel Reeves, said: “Today’s interest rate cut will be welcome news for millions of families, but I am under no illusion about the scale of the challenge facing households after the previous government’s mini-budget.
Bank of England must look past budget's temporary inflation hit, Pill says
The Bank of England will need to look beyond the temporary inflation boost from last week's budget but must keep a close eye on anything that might add to longer-term price pressures, BoE Chief Economist Huw Pill said on Friday.
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