Bank of England meets expectations and cuts rates to 4%

So far, the BoE has opted to cut rates twice this year (February and March) while holding at the last one in June. Now the 4% rate cut means that interest rates have fallen to the lowest level in two and a half years as BoE aims to support UK growth. The 25-basis point move was already predicted by many economists. Standard Life managing director for retail direct Dean Butler said today's cut continues the BoE's "measured approach" to easing monetary policy. "While not unexpected, it reinforces the Bank's cautious response to a challenging economic backdrop. Interest rates are now ...