The Bank of England has halved its growth projection for the UK.

The Bank of England halved its growth projection for the UK at its recent meeting. They also lowered the main interest to 4.50% which is the lowest level since 2023. The move is a blow to the Labour government which has prioritized increasing economic growth. Economists expert that the Bank of England will likely continue to reduce rates as inflation continues to decrease.

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https://apnews.com/article/britain-economy-interest-rates-inflation-bank-england-cecd754e6ff0f85dd33dba65813584eb