Bank of England cuts rates to 4.5%, sees higher inflation, weaker growth

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Bank of England cuts rates to 4.5%, sees higher inflation, weaker growth - Business Standard

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For the other policymaker, weak growth was likely to ensure that inflation would return to target in the medium term.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.

The BoE said it was unclear exactly how any future US tariffs would affect inflation in Britain, but said higher global tariffs were likely to cause slower growth, even if Britain was not specifically targeted.

Bank of England Governor Andrew Bailey said the BoE would be "monitoring the UK economy and global developments very closely and taking a gradual and careful approach to reducing rates further" - a shift from December's language where he spoke only of a "gradual" approach.