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Bank of England Cuts Interest Rates from 16-Year High

  • #Economic conditions & trends
  • #Finance
Bank of England Cuts Interest Rates from 16-Year High
story
AUG 2024
Image copyright: Verity
story last updated AUG 2024

The Spin

Pro-establishment narrative

With many expecting the BoE to remain firm at 5.25%, today's decision is a small win for the property and mortgage markets. With lenders already beginning to bring down prices, the news is reaffirmation to many that things are slowly but surely getting better.

Forbes

Establishment-critical narrative

A small reduction in the BoE's interest rate will do next to nothing for millions who have been affected by the cost of living crisis. While the UK may be over the worst of the post-pandemic era, and an interest rate cut will certainly be of some help to small groups, the economy irrespectively remains extremely fragile.

Guardian

Metaculus Prediction


Public Figures

Bank of England


The Controversies


Status:Resolved
When Will Inflation Reach the Bank of England’s 2% Target?
Controversy
+8
AUG 4 2024AUG 4 2024

NO TIME SOONIMMINENTLY
Status:Resolved
When Will the Bank of England Cut Interest Rates?
Controversy
AUG 4 2024AUG 4 2024

Articles on this story

Why the Bank of England isn’t lowering rates yet
Spectator (UK)JUN 2024
Bank of England keeps interest rates on hold at 5.25%
GuardianJUN 2024