'The Global Trade War!" | Interest Rates Drop To 4.25% As Trade Tensions Hit Growth Hard
The Bank of England has cut interest rates to its lowest level for two years as it warned an escalating global trade war will drag on growth over the next three years.
The central bank cut the UK’s base interest rate from 4.5% to 4.25% following a slowdown in inflation in recent months.
Andrew Bailey, governor of the Bank of England, said: “Inflationary pressures have continued to ease so we’ve been able to cut rates again today.”
Talk’s Julia Hartley-Brewer says: “Are we praising the Bank Of England?!”
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