Bank of England cuts interest rates again after inflation drops

LONDON, U.K.: The Bank of England has reduced its primary interest rate by 0.25 percentage points to 4.75 percent following a significant drop in U.K. inflation, which now sits at 1.7 percent, its lowest level since April 2021.

This is the bank's second rate cut in three months, aimed at easing financial pressure on borrowers after a prolonged period of high mortgage and loan costs.

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