Bank of England announces interest rate cut – Hum News

The Bank of England has announced a 0.25% cut in interest rates.

According to media reports from London, the reduction in interest rates is a big relief for mortgage payers. After the decision by the Bank of England, the interest rate was reduced from 5 to 4.75 percent.

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According to the report, the rate of inflation in September was 1.7 percent, the first time since 2021 that inflation has fallen below the target of 2 percent.

The report added that for the first time since 2020, the interest rate was cut by 0.25 percent in August this year.