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Bank of England lowers rate for first time since 2020

Pelican Press

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Bank of England lowers rate for first time since 2020

The Bank of England has cut interest rates for the first time since the onset of the COVID-19 pandemic in early 2020.

The bank said that by a 5-4 margin, its nine-member policymaking panel backed a quarter-point reduction in its main interest rate to five per cent from 5.25 per cent.



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