The Bank of England has cut its main interest rate by a quarter of a percentage point, citing lower UK inflation. The move, which had been widely expected, brings the main cost of borrowing in ...

The Bank of England was granted independence in 1997 over how it operates, but the government sets the inflation target and appoints the governor. Mr. Bailey’s term does not expire until 2028.

The UK central bank is facing no appealing options when it comes to interest rates. Also, the US stock market is partying like it’s 1999. June 22, 2023 at 12:01 AM EDT By John Authers ...

The Bank of England cut interest rates Thursday for the first time since the start of the pandemic, providing some relief to households squeezed by the highest borrowing costs in 16 years.

The Bank of England decided, by a slim margin among its policymakers, to cut interest rates on Thursday for the first time in more than four years amid slower inflation. Britain’s central bank ...