Bank of England Cuts UK Interest Rates to 4%

Economists have warned of a surge in inflation, fuelled by the chancellor’s national insurance cuts, as the Bank’s vote reached its first-ever second round

The Bank of England has cut interest rates to their lowest level in more than two years after the first-ever two-round vote among its officials.

The Bank of England’s monetary policy committee (MPC), the nine-member group that sets the base rate of interest in the UK every six weeks, voted 5-4 in favour of lowering borrowing costs by 0.25 percentage points to 4 per cent...

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