Bank of England cuts interest rates to near three-year low

The Bank of England has cut interest rates from 4% to 3.75% (Yui Mok/PA) - (PA Wire)

The Bank of England has cut interest rates to the lowest level in nearly three years, as it said measures in the Budget will help bring down inflation quicker than previously thought.

The Bank’s Monetary Policy Committee (MPC) voted to reduce rates from 4% to 3.75%.