Bank of England cuts interest rates to 5%
The Bank of England has cut interest rates from 5.25% to 5%. This is the first interest rate cut since March 2020.
The Bank of England’s Monetary Policy Committee (MPC), who set interest rates voted as follows:
- 4 members voted to keep interest rates at 5.25%.
- 5 members voted to decrease interest rates to 5%.
Farrell Financial Planning are independent financial advisers based in Glasgow. Farrell Financial Planning do not give advice on inflation or future interest rate movements. However, we do offer independent advice on investments, pensions, mortgages and much more.
Why not explore our website and discover more about the advice services we offer.
All information is correct as at 01/08/2024.