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Evening Standard
Evening Standard
Business
Henry Saker-Clark

Interest rates: Why have they been cut and what does it mean?

Interest Rates Inflation Andrew Bailey Bank of England Donald Trump Economy Jordan Pettitt Rachel Reeves PA Graphics
Governor of the Bank of England, Andrew Bailey (Jordan Pettitt/PA) - (PA Wire)

The Bank of England has cut interest rates to 4%, marking the lowest level for more than two years.

In a tight decision, rate-setters at the bank opted to cut rates for the third time this year.

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