Bank of England Cuts Rate Amid Slow Growth

The Bank of England reduces its main interest rate by a quarter of a percentage point to three point seven five percent, aiming to stimulate the UKs economy amidst slow growth and high unemployment. This decision is influenced by decreasing inflation data, with consumer prices dropping to three point two percent in November. Despite the rate cut, economists predict two more cuts in 2023 due to persistent inflation pressures and ongoing challenges from Brexit.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.