🚨 BREAKING NEWS: Bank of England Cuts Interest Rates to 4%! 🚨

The Bank of England just announced a 25 basis point (0.25%) interest rate cut, bringing the main rate down to 4%. This is the fifth rate cut since August last year, signaling efforts to boost the UK economy amidst slowing growth.

What does this mean?

* Cheaper Borrowing: Loans for mortgages, businesses, and consumers could become more affordable. This aims to encourage spending and investment.

* Impact on Savings: Savers might see lower returns on their deposits.

* Economic Boost: The goal is to stimulate economic activity, even with inflation still above the 2% target.

This decision was a close call, highlighting the ongoing balance between controlling inflation and supporting economic growth.

Stay tuned for more updates on how this impacts the global markets!

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