The Bank of England lowered the base interest rate by 0.25% to 4.25%.
The monetary policy committee, which sets interest rates, voted 5 to 4 points, has affected a wide range of consumer loan agreements from credit cards to mortgages.
Two members prefer to lower bank interest rates by 0.5 percentage points to 4%, while the other two members want to keep bank interest rates at 4.5%.
Bank rates for March were held at a rate of 4.5% in distributions from March 8 to 1.
Last week, the market forecast that the base rate will drop from 4.5% to 4.25%.
Deutsche Bank and Ernst & Young Project Club are among many analysts who say they “determine” that the bank’s monetary policy committee will lower interest rates.
This is the fourth time MPC has lowered interest rates since August, with current inflation at 2.6%, higher than the bank’s 2% target.
This is the first vote for MPC since Trump imposed a series of tariffs last month in about 75 countries and industries. The UK’s exports to the United States are taxed at 10%.
Yesterday, the U.S. Federal Reserve announced that it would rate its interest rates at 4.25% to 4.5%.
The response of the mortgage market to the basic interest rate decision…
