The Bank of England cuts interest rates to their lowest level in nearly three years
Jinse Finance reported that the Bank of England lowered its key interest rate on Thursday, a move that aligns with the Federal Reserve rather than following other European central banks. The European Central Bank has entered a period of stable borrowing costs. The Bank of England reduced its key rate from 4% to 3.75%, the lowest level in nearly three years, resuming a series of rate cuts that began in August 2024 after a pause in November. The bank stated that borrowing costs may continue to decline in the coming months but are approaching their lowest point. Like their counterparts at the Federal Reserve, policymakers at the Bank of England are working to balance inflation rates above target with a cooling job market, and members of the Monetary Policy Committee hold differing views on how quickly rates should be lowered.
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