Bank of England cuts interest rate by 25 bps amid global trade uncertainty
[ad_1] The Bank of England has cut its main interest rate by 0.25 percentage points to 4.25%, citing concerns over the potential global economic slowdown driven by the trade policies of the Trump administration.The decision announced on Thursday, comes just hours before a widely anticipated US-UK trade deal is expected to be unveiled. President Donald Trump described the upcoming agreement on his Truth Social platform as a “full and comprehensive” deal that will “cement the relationship between the United States and the United Kingdom for many years to come.”The move by the UK's central bank underscores growing fears that escalating tariffs—particularly between the US and key trading partners like China and the UK—could derail global growth. Economists believe that despite current inflationary pressures in Britain, the Monetary Policy Committee (MPC) opted for a pre-emptive rate cut to cushion against a […]