LONDON — The Bank of England cut interest rates by 25 basis points Thursday while raising its inflation forecast as Labour's bumper budget announcement muddies the outlook for future policy easing.
The metric is being closely watched by the Bank of England, as the services sector accounts for around 80% of the UK economy. Services inflation has proved sticky in previous reports. Core ...
The Bank of England cut borrowing costs for the second time this year, but it stopped short of signaling faster easing, warning that the budget could drive up inflation by as much as half a percentage ...