UK inflation has unexpectedly accelerated to 3.8% in July, primarily driven by rising food, fuel, and airfare costs.
UK inflation has unexpectedly accelerated to 3.8% in July, primarily driven by rising food, fuel, and airfare costs.
The Bank of England reduced rates by 25bp to 4.0%, with a closely divided MPC underscoring policy uncertainty.
The Bank of England's Monetary Policy Committee voted to cut the base rate by 0.25 percentage points to 4.0%, marking the fifth consecutive cut in a year.
BoE reduces rates as UK inflation spikes to 3.5%, signaling confidence in falling prices ahead.
New data shows the UK's services sector experienced its largest drop in new orders in almost three years, adding to the pressure on the Bank of England to cut interest rates.
The Bank of England has launched a consultation on extending the operating hours for its Real-Time Gross Settlement (RTGS) service and CHAPS.
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