BoE cuts interest rates to 4.5%

The Bank of England (BoE) has voted to cut interest rates from 4.75% to 4.5%, the lowest level since June 2023, but warned that GDP growth has been “weaker than expected”.At its meeting this week, the bank’s monetary policy committee voted by a majority of 7–2 to reduce the rate by 0.25 percentage points. Two members preferred to reduce it by 0.5 percentage points, to 4.25%.