The central bank said future cuts would be gradual amid higher inflation forecasts after the new government introduced spending and tax increases in its budget.

The Bank of England's chief economist has warned that future interest rate cuts could be affected by global "disturbances" in the economy following Donald Trump's victory in the US presidential election.

Chancellor Rachel Reeves welcomes the cut, but says she is "under no illusion about the scale of the challenge facing households".

The Bank of England has cut its main interest rate by a quarter of a percentage point after inflation across the U.K. fell below its target rate of 2%

The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual, as it

LONDON, Nov 7 (Reuters) - The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual, seeing higher inflation and growth after the new government's first budget.

AXA Investment Managers are sticking with their forecast of one quarter-point cut to UK interest rates per quarter next year. That would bring Bank rate down to 3.75% at the end of 2025. Gabriella Dickens,

The Bank of England has cut interest rates to 4.75 per cent after inflation fell to a three-year low in September. The eight-to-one decision to cut the base rate by 0.25 percentage points was in line with the expectations of economists polled by Reuters.

The Bank of England has been urged to slash interest rates at a “further and faster” pace after dropping the prime rate to 4.75 per cent. Threadneedle Street cut interest rates for a second time this year after inflation fell to 1.