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Evening Standard
Evening Standard
Business
Jonathan Prynn

Bank of England cuts interest rates to 3.75%, lowest for almost three years

Bank of England Interest Rates Inflation The Bank of England

The Bank of England today cuts its interest rate by a quarter of a percentage point from 4% to 3.75%.

The move , which was widely expected in the City, reduces the cost of borrowing to its lowest level since February 2023 and will be welcomed by home owners and small businesses struggling under a heavy burden of debt.

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