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Monetary policy

The Bank of England cuts interest rates despite high inflation

The facade of the Bank of England in London, in an image taken last Monday.
The facade of the Bank of England in London, in an image taken last Monday. Corey Rudy / Reuters
1 min

The Bank of England, Britain's central bank, cut base interest rates in the United Kingdom by a quarter of a point on Thursday, leaving the price of money at 4%, the lowest level since 2023. Inflation in the country was 3.6% in June, above the target of 2%.

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