LONDON, Aug 1 (Reuters) - The Bank of England cut interest rates from a 16-year high on Thursday after a narrow vote in favour from policymakers divided over whether inflation pressures had eased sufficiently.
Governor Andrew Bailey - who led the 5-4 decision to lower rates by a quarter-point to 5% - said the BoE’s Monetary Policy Committee would move cautiously going forward.
“We need to make sure make sure inflation stays low, and be careful not to cut interest rates too quickly or by too much,” he said in a statement alongside the decision.
Reuters Media Bias Fact Check Credibility: [High] (Click to view Full Report)
Check the bias and credibility of this article on Ground.News
Thanks to Media Bias Fact Check for their access to the API.
Please consider supporting them by donating.
Footer
Beep boop. This action was performed automatically. If you dont like me then please block me.💔
If you have any questions or comments about me, you can make a post to LW Support lemmy community.