Bank of England keeps interest rates at 4.25% but hints at cuts to come

Governor says rates still on downward path but hard to predict timing of reductions in ‘highly unpredictable’ worldRate decision leaves Reeves praying for an August cut Business live – latest updatesThe Bank of England has left interest rates on hold at 4.25%, though it signalled further cuts in the cost of borrowing later this year after “clearer evidence” of rising unemployment amid a slowing economy.Six members of the Bank’s nine-member monetary policy committee (MPC) voted to keep rates on hold while three supported a reduction to 4%, to add to the four quarter-point cuts since last August. Continue reading...

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