Bank of England cuts rates but slashes growth forecast in blow to Labour

The base rate fell to 4.5% on Thursday, but the Bank halved the UK’s economic growth forecast for this year while predicting surging inflation.

Andrew Bailey, governor of the Bank of England — Andrew Bailey, governor of the Bank of England (Kin Cheung/PA)

By Alex Daniel, PA Business Reporter

February 06, 2025 at 4:23pm GMT

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