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Bank of England needs to move faster on interest rates, experts say
The Bank of England in the City of London
THE Bank of England (BoE) came under criticism today for failing to do more to ease interest rates.
The TUC and economic experts said bigger cuts were needed to breathe life into Britain’s stagnating economy after it reduced the base rate by a quarter of a percentage point to 4.5 per cent.
In a blow to the credibility of Chancellor Rachel Reeves’s growth mission, policymakers also slashed their growth forecasts to 0.75 per cent for this year, down from previous estimates of 1.5 per cent.
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