Split in Bank of England votes muddies waters as to direction of monetary policy in coming months
- UK interest rates fall to 4.25% as Bank of England announces a quarter-point cut
- Explainer: what does it mean for mortgages and savings?
- Business live – latest updates
Thursday’s interest rate cut to 4.25% is the fourth in a run of reductions that kicked off last August. It represents a fillip for Rachel Reeves, who will hope it helps revive the feelgood factor for gloomy British consumers.
The Bank of England’s nine-member monetary policy committee (MPC) has passed judgment on the impact of Donald Trump’s trade war for the UK – and expects modestly weaker growth and inflation to be the result.