Base Rates cut to 3.75% by The Bank of England

The Bank of England has announced that base rates have been cut to 3.75%

The Bank of England has announced that interest rates have been cut to 3.75%, the lowest figure since February 2023.

The Bank of England has made 6 cuts to interest rates since August 2024. Interest rates were at their peak in August 2024, standing at 5.25%.

The previous two decisions made on base rates were to hold, occurring in November and September.

It was also announced that yesterday inflation dropped to 3.2% over the past 12 months.

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