Effects of US tariffs on growth will be smaller in UK than elsewhere, central bank says
Andrew Bailey
The Bank of England cut its benchmark interest rate by 25 basis points to 4.25% as inflation continued to decline, it announced today (May 8).
Bank officials decided that monetary policy would remain tight enough to squeeze out the persistent effects of inflation following the cut. The decision came a day after the US Federal Reserve held rates at the target range of 4.25–4.5%.
Headline inflation dropped to 2.6% in March from 2.8% in February, which the BoE said had given it confidence that price
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