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Bank of England cuts rates from 16-year high, 'careful' on future moves

LONDON, Aug 1 (Reuters) - The Bank of England cut interest rates from a 16-year high on Thursday after a narrow vote in favour from policymakers divided over whether inflation pressures had eased sufficiently.

Governor Andrew Bailey - who led the 5-4 decision to lower rates by a quarter-point to 5% - said the BoE’s Monetary Policy Committee would move cautiously going forward.

“We need to make sure make sure inflation stays low, and be careful not to cut interest rates too quickly or by too much,” he said in a statement alongside the decision.

Reverendender ,

It’s like they are oblivious to the fact that “inflation” skyrocketed even though rates have been at record highs.

porous_grey_matter ,

That happened the other way around

MediaBiasFactChecker Bot ,

Reuters Media Bias Fact Check Credibility: [High] (Click to view Full Report)> Name: reuters.com> Bias: Least Biased
> Factual Reporting: Very High
> Country: United Kingdom
> Full Report: mediabiasfactcheck.com/reuters/
Check the bias and credibility of this article on Ground.News

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