The Bank of England reduced its benchmark interest rate for the fifth time in a year as domestic and geopolitical risks weigh on economic activity.
The Monetary Policy Committee voted 5-4 to cut the bank rate by 25 basis points to 4.00 percent. The fifth cut since last August took the rate to the lowest since early 2023.
"A gradual and careful approach to the further withdrawal of monetary policy restraint remains appropriate," the bank said in a statement.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.