Bank of England expects to cut borrowing costs further after rate cut today – business live
UK central bank cuts interest rates, and warns growth will be half as fast as expected this year, sending pound sliding
- Bank of England cuts interest rates to 4.5% but halves UK growth forecast
- Evelyn de Rothschild left bank in 2004 after sexual misconduct complaint
Britain’s blue-chip share index has hit a new all-time high at the start of trading, as investors anticipate a cut in UK interest rates today.
The FTSE 100 index has gained 0.8% to a new intra-day peak of 8,695 points, up 72 points today, above the previous record of 8,692 points set last month.
After a severe allergic reaction on Monday after the tariff news, markets continued to be relatively sedated yesterday as investors continued to price out the chance of aggressive tariffs.
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Bank of England halves growth forecast and cuts rates to 4.5%
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