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TechFlow news, according to Jinshi News, British economist Luke Bartholomew said the Bank of England announced on Thursday a 25 basis point cut in its benchmark interest rate to 4.5%, with two committee members favoring a 50 basis point reduction. Given the weak economic growth outlook, the Bank of England is expected to have room for several more rate cuts this year, with interest rates projected to fall below 3% over the next two years.
According to Jinshi, British economist Luke Bartholomew said the Bank of England cut its benchmark interest rate by 25 basis points to 4.5% on Thursday, with two committee members favoring a 50 basis point reduction. Given the weak economic growth outlook, the Bank of England is expected to have room for several more rate cuts this year, with interest rates projected to fall below 3% over the next two years.
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