BOE News Today: Bank of England Cuts Rates to 3.75% on December 19

The Bank of England has announced a noteworthy decision: a rate cut to 3.75%, marking the lowest level in almost three years. This significant move aims to address economic stagnation and inflation that has been dropping faster than anticipated. The decision was narrowly decided with a 5-4 vote within the Monetary Policy Committee (MPC). As we approach the holiday season, the impact on mortgage borrowers and consumer spending is critical. Understanding this decision and its wider implications can guide both policymakers and consumers.