UK economy prepares for fifth rate cut, BOE balances inflation spike

Description

The Bank of England (BoE) is expected to lower interest rates to 4%, their lowest level in more than two years, as it grapples with a weakening economy and a labor market hit by rising taxes. Economists and markets widely anticipate a 25 basis point cut , maintaining the central bank’s current once-per-quarter pace of monetary easing. The decision will be announced at 12 p.m. in London, followed by a press conference with Governor Andrew Bailey at 12:30 p.m. The rate cut would mark the fifth con...