Reacting to growing concern over economic slowdown the Bank of England has cut interest rates again for the fourth time in as many months. The Monetary Policy Committee (MPC) decided to reduce the base rate by a quarter point from 6.25% to 6%.
As with previous reductions, there is a feeling from industry that the cut could have done with being greater. An MPC statement said that whilst evidence points to a slowdown in the economy, the risks of further international turmoil “remain clearly on the downside”.
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