Summary: The Bank of England cut its key interest rate by a quarter point to 4.25% due to the threat of US tariffs impacting economic growth. This decision contrasts with the US Federal Reserve’s decision to freeze borrowing costs. The Bank of England also hiked its forecast for annual UK GDP growth this year to 1% but lowered the forecast for next year to 1.25%.

Link: https://www.straitstimes.com/business/economy/bank-of-england-cuts-interest-rate-as-us-tariffs-hit-economy