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Cut in rate 'shows economy on right track' under Tories
Daily Express
|August 02, 2024
THE Bank of England has cut interest rates for the first time since 2020, undermining Rachel Reeves' claim the economy is in its worst state since the Second World War.
The Monetary Policy Committee voted five-four to lower rates from 5.25% to 5%, with Governor Andrew Bailey saying inflationary pressures "have eased enough".
Shadow Chancellor Jeremy Hunt said the decision "will be welcome news for millions of homeowners" and "shows that Labour inherited a stronger economy which was on the right track".
He said: "In government, we took difficult decisions that cut inflation from 11.1% to the Bank's target 2%, paving the way for lower rates.
Dit verhaal komt uit de August 02, 2024-editie van Daily Express.
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