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Chancellor welcomes interest rates cut
Video Credit: ODN
Published on August 1, 2024 - Duration: 00:23s
Chancellor welcomes interest rates cut
The Bank of England has cut interest rates to 5% at its August Monetary Policy Committee meeting, the first reduction of the UK’s base rate in four years.
Responding to the cut, Chancellor of the Exchequer Rachel Reeves said: “Homeowners will welcome this cut in interest rates, but I know that millions of people are still paying higher mortgage rates after the Conservatives mini-budget.
Report by Covellm.
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Bank of England
Central bank of the United Kingdom
Rachel Reeves
British politician (born 1979)
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