You wait for a base rate cut…
The base rate could be reduced even further in coming weeks, according to the minutes of the Bank of England’s Monetary Policy Committee meeting.
The minutes of the MPC meeting, at which the base rate was reduced from 4.5 per cent to 3 per cent, showed the Bank’s nine-member committee voted unanimously for the cut on 6 November but considered an even greater one.
The Bank’s own calculations showed a cut to 2.5 per cent, or even less, would be needed to stop inflation falling too far below its target next year.
Is it just me or do you wait ages for a base rate cut and then suddenly a few seem to be coming along all at once?
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