Bank Of England Cuts Interest Rate After UK Inflation Slides

The Bank of England cut its key interest rate to 3.75 per cent on Thursday after UK inflation eased faster than expected and as the economy weakens.

“We’ve passed the recent peak in inflation, and it has continued to fall, so we have cut interest rates,” BoE governor Andrew Bailey said.

The widely expected quarter-point reduction followed a regular policy meeting and came ahead of the…