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Bank of England Poised to Cut Interest Rates Amid Rising Unemployment

By Anonymous

Summary:
The Bank of England is expected to cut its benchmark rate by 0.25% to 4% as unemployment rises to 4.7% and economic growth stalls in May and April. Weak demand and persistent inflation (CPI now at 3.6%) prompted the Monetary Policy Committee to act. This marks the fifth rate reduction since August 2024, intended to stimulate recovery without worsening inflation. The IMF forecasts stagnation and signs of stagflation in the UK. Chancellor Rachel Reeves supports this decision to ease financial burdens on households and businesses.
Key Points:

  • Rate cut expected this week to 4%.

  • Labour market softens; hiring slows.

  • CPI still elevated at 3.6%.

  • UK GDP contracted in mid-2025.

  • Split views within the MPC over inflation risks.
    Why It Matters:
    A pivotal move showing the tension between inflation control and economic stimulus in a slowing post‑pandemic recovery.
    Source Links:
    Source: The Guardian

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