UK cuts interest rates further in three months... 5.0% → 4.75%

The UK has lowered its benchmark interest rate again in three months.

The Bank of England held its monetary policy committee today and decided to cut its key interest rate by a quarter of a percentage point to 4.75% from 5.0%.

The UK previously cut interest rates by a quarter of a percentage point in August, the first such cut in more than four years since March 2020.