Bank of England signals further easing after rate cut, slashes growth outlook

The Bank of England cut its interest rate by 25 basis points to 4.5%, with plans for further cuts as it downgraded the UK’s growth forecast for 2025. Governor Andrew Bailey stated that more rate cuts are expected, citing uncertainty in the economy. Weak growth data and lower-than-expected inflation led to the decision, with the central bank halving its growth forecast and emphasizing a cautious approach to monetary policy adjustments.

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