Bank of England cuts interest rates by 25 basis points to 5%

This marks the first drop since 2020

Linus Uhlig
clock • 5 min read
Bank of England cuts interest rates by 25 basis points to 5%

The Bank of England (BoE) has cut its bank rate by 25 basis points to 5%, having held rates for the longest period since the Second World War.

The rate cut call which took place today (1 August) was on a knife edge among a divided Monetary Policy Committee (MPC), with 5-4 voting in favour of the snip. This is the first time the UK's ce...

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