NEWS

On February 6th, as reported by Xinhua News Agency, the Bank of England announced a reduction in the benchmark interest rate by 25 basis points, from 4.75% to 4.5%. This marks the first rate cut by the Bank of England this year and the third since August of last year. The rate cut aims to alleviate inflationary pressures in the country. Against the backdrop of insufficient economic growth momentum, the rate cut is intended to release liquidity into the market, further boosting investment and consumption in the country.