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Chancellor Rachel Reeves’ expansionary policies in last week’s Autumn Budget have not been enough to stop an interest rate cut today.
The Bank of England (BoE) has met market expectations by cutting interest rates by 25 basis points to 4.75%, citing cooling inflation and a loosening labour market.
All but one member of the Monetary Policy Committee (MPC) voted to reduce the bank rate at the meeting on Wednesday (6 November). With UK inflation dropping below the bank's 2% target in Septe...
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