BoE cuts interest rates to 4.25% 

The Bank of England (BoE) has cut interest rates to 4.25%, down from the previous rate of 4.5%, marking the fourth rate cut since last year’s peak of 5.25%. At its meeting ending on 7 May, the bank’s monetary policy committee (MPC) voted by a majority of 5–4 to reduce the bank rate by 0.25 percentage points. Two members preferred to reduce the rate by 0.5 percentage points, to 4%, while two members preferred to maintain it at 4.5%.