BREAKING: Bank of England Cuts Interest Rates to 4%
The Bank of England has officially reduced its key interest rate by 25 basis points, bringing it down from 4.25% to 4.00%.
Why this matters:
๐น This is the fifth rate cut in the past year, signaling a shift in policy.
๐น The move comes as inflation shows signs of cooling and the UK economy faces slower growth and rising unemployment.
๐น The decision was split (5โ4) within the Bank's committee, showing how divided the outlook still is.
What to watch next:
๐น Borrowing may become cheaper (good for mortgages).
๐น Savings returns may drop.
๐น Markets will closely track upcoming inflation and job data for hints on future cuts.
Stay tuned for more macro updates.
