Bank of England cuts rates as inflation eases

Governor of the Bank of England Andrew Bailey said they need to ensure that they don't cut rates 'too quickly or too much'. 

The Bank of England (BOE) has announced its first rate cut in four years citing easing inflationary pressures as the European Central Bank (ECB) and US Federal Reserve signal that further cuts are to come in their respective regions following their next meetings in September.

On Thursday, the BOE announced a 0.25% cut to the benchmark rate to 5% with more cuts expected over the coming months. There was no specific guidance on where interest rates may settle, nor of the speed of cuts needed to get there.