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Bulls are back finally rises from 8550 | 8715 8771 resistance | 8660 support
The Bank of England has cut interest rates as Britain’s economy faces pressure from weak growth and persistent inflation.
Policymakers voted to reduce the Bank Rate from 4.75pc to 4.5pc - its lowest level since June 2023 - in the wake of official figures showing inflation fell unexpectedly to 2.5pc last month.
It is the third time borrowing costs have been cut since last summer and is a boost for Chancellor Rachel Reeves, who needs growth in Britain’s economy to help her meet her self-imposed fiscal rules.
It comes as closely watched surveys showed that in January the UK’s dominant services sector cut jobs at the fastest pace in four years, while Britain’s construction sector activity fell unexpectedly for the first time in nearly a year.
A burgeoning tariff trade war between the US and China, the world’s two largest economies, poses further risks to growth.