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The Bank of England has cut interest rates to its lowest level for two years as it warned that an escalating global trade war will drag on growth over the next three years. The central bank cut the UK’s base interest rate from 4.5% to 4.25% following a slowdown in inflation in recent months. Andrew Bailey, governor of the Bank of England, said: “Inflationary pressures have continued to ease so […]
It's down from 3 per cent in January. UK inflation eased by more than expected last month, new official figures show, delivering a boost to Chancellor Rachel Reeves. The prices of clothes and shoes fell for the first time in more than three years, the Office for National Statistics (ONS) said. The rate of Consumer Prices Index (CPI) inflation fell to 2.8% in February from 3% in January. Most analysts […]
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