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Bank of England cuts cash rate

Staff Reporter 1 minute read

The Bank of England Monetary Policy Committee yesterday voted to reduce the official cash rate by 25 basis points to 5.5 per cent.

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While the Committee conceded that upside risks to inflation remain, slowing demand growth should ease the pressures on supply capacity, bringing inflation back to target in the medium-term.

“Against this background, the Committee judged that a decrease in the bank rate of 0.25 percentage points to 5.5 per cent was necessary to meet the two per cent target for CPI inflation in the medium-term,” a Bank of England statement said.

 

Bank of England cuts cash rate
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