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BANK OF ENGLAND WILL CUT BANK RATE TO 4.75% ON NOV. 7

  • NEWS Desk Global
  • Oct 28, 2024
  • 1 min read



The Bank of England will cut its Bank Rate by a quarter-point on Nov. 7 to 4.75%, but a near-two-thirds majority expect no move in December, suggesting the BoE will stick to a cautious approach.

British inflation plunged to a three-year low of 1.7% in September from 2.2%, below the BoE's 2% target. That leaves room for the Monetary Policy Committee (MPC) to cut rates next week after pausing in September following a narrow vote to start easing in August.


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