Bank of England cuts main interest rate to 4.75% after UK inflation falls

Q: How long will it take to read this news story?

The story "Bank of England cuts main interest rate to 4.75% after UK inflation falls" has 723 words across 23 sentences, which will take approximately 4 - 7 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Bank of England cuts main interest rate to 4.75% after UK inflation falls" was covered 2 weeks ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 320 news stories per day. It's most recent story was published 7 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #23460978</li><li>URL: https://beamstart.com/news/bank-of-england-cuts-main-17309838128208</li></ul>

Business Standard Logo Business Standard 2w ago

Bank of England cuts main interest rate to 4.75% after UK inflation falls - Business Standard

Quick Summary:

Central banks worldwide dramatically increased borrowing costs from near zero during the coronavirus pandemic when prices started to shoot up, first as a result of supply chain issues built up and then because of Russia's full-scale invasion of Ukraine which pushed up energy costs.

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

As inflation rates have recently fallen from multi-decade highs, the central banks have started cutting interest rates.