The Bank of England has cut its interest rates by a quarter-point to 4.25% in an effort to shield the UK economy from growing global uncertainty, including the fallout from US President Donald Trump’s escalating trade war, The Guardian reported.
This is the fourth rate cut by the Bank’s Monetary Policy Committee (MPC) since August 2024, against a backdrop of weakening economic data and rising concerns over inflation and stagnant growth.
The committee also warned that the UK’s economic output is expected to shrink by a further 0.3% over the next two years, on top of already lowered forecasts earlier this year.
Inflation is now forecast to peak at 3.5% in the third quarter of 2025 – slightly lower than previous estimates – due in part to cheaper imported goods from countries hit by US tariffs. Nonetheless, inflation is not expected to reach the Bank’s 2% target until spring 2027.
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