Summary
- The Bank of England announced a 0.25 percentage point cut in the base rate to 4.50%.
- This rate cut marks the lowest level since June 2023.
- The rate cut was reported to align with market experts' forecasts.
On the 6th (local time), the Bank of England (BOE) held a Monetary Policy Committee meeting and lowered the base rate by 0.25 percentage points to 4.50% annually.
This rate cut in the UK is the first in three months since the 0.25 percentage point reduction last November.
The newly decided base rate is the lowest since June 2023, and the rate cut aligns with market experts' forecasts.
On this day, seven members of the BOE's Monetary Policy Committee voted for a 0.25 percentage point cut, while two members suggested a 0.50 percentage point reduction.
Ibo Bae, Guest Reporter at Hankyung.com newsinfo@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
