The Bank of England reduced its benchmark interest rate by 25 basis points to 4.75% on Thursday, as expected. The easing cycle was kicked off by the Bank of England in August, but it had chosen to hold rates steady in September.

The Bank of England (BoE) has cut its policy rate by 25 basis points to 4.75%. The bank announced today that its monetary policy committee had voted by 8–1 to loosen policy, with the one dissenting member voting to hold the bank rate at 5%.

LONDON, Nov 7 (Reuters) - The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual, seeing higher inflation and growth after the new government's first budget.

Interest rates have been cut by 0.25 percentage points but economists think it could be the last reduction for a while

UK interest rates have been cut for the second time this year, as the Bank of England forecast a “gradual” reduction in borrowing costs despite uncertainty following the autumn Budget. The Bank’s Monetary Policy Committee (MPC) announced that rates were being reduced from 5% to 4.75% on Thursday.

Bank of England Governor Andrew Bailey stuck to his script outlining gradual interest rate cuts on Thursday, but Donald Trump's White House return and threats to impose tariffs could force a hasty rewrite,

The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual, seeing higher inflation and growth after the new government's first budget.

The Bank of England is set to cut interest rates later Thursday for the second time in three months, as inflation has fallen to its lowest level in more than three years. However, economists warn that worries about the future path of prices following last week's tax-raising budget from the new Labour government and the economic impact of U.