Bank of England cuts interest rates

Please find linked below the August Monetary Policy Summary, minutes of the Monetary Policy Committee meeting ending on Wednesday 31 July 2024, and the Monetary Policy Report.

Monetary Policy Report – August 2024

Monetary Policy Summary and minutes of the August Monetary Policy Committee meeting ending 31 July 2024

Commenting on the interest rate decision, Andrew Bailey, Governor of the Bank of England said:

“Inflationary pressures have eased enough that we've been able to cut interest rates today. But we need to make sure inflation stays low, and be careful not to cut interest rates too quickly or by too much.  Ensuring low and stable inflation is the best thing we can do to support economic growth and the prosperity of the country.”