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Bank of England cuts interest rate to 4.25 pct amid global trade uncertainty
LONDON-- The Bank of England (BoE) announced on Thursday a cut to its benchmark interest rate from 4.5 percent to 4.25 percent, citing softening inflationary pressures and rising global economic uncertainty fueled by US trade measures.
Bank of England as it happened: Interest rates cut to 4.25% as tariffs set to weigh on growth
The BoE expects the economy to grow this year by 1%, a bit more than February's forecast of 0.75%, thanks to a strong end to 2024 and robust official data at the start of 2025. It said that first-quarter growth bounce looked erratic, however, and estimated the underlying quarterly growth rate at just 0.1%.
Sterling rose to a five-week high against the euro as risk sentiment improved after the U.S. and China agreed to lower tariffs significantly.
Bank of England (BoE) Deputy Governor for Monetary Policy Clare Lombardelli said on Monday, “caution remains appropriate” on ...
SINGAPORE (Reuters) -The dollar headed for a weekly gain on most major peers on Friday as a U.S.-UK trade deal raised hopes ...
The selloff in Treasurys and eurozone government bonds accelerated, pushing yields up further, after the U.S. and China reached a deal to slash tariffs.
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