The Zhitong Finance App learned that the Bank of England's monetary policy committee decided to lower the benchmark interest rate by 25 basis points to 3.75% with a 5:4 vote on Thursday, the lowest level in nearly three years, in line with market expectations. This is the first time since August that the Bank of England has cut interest rates. At the previous two policy meetings, the Bank of England chose to stay on hold. Bank of England Governor Bailey chose to support the much-anticipated easing measure of cutting interest rates by 25 basis points after a series of recent data showed a downward trend in the UK's economic growth, job market, and price pressure.

The Zhitong Finance App learned that the Bank of England's monetary policy committee decided to lower the benchmark interest rate by 25 basis points to 3.75% with a 5:4 vote on Thursday, the lowest level in nearly three years, in line with market expectations. This is the first time since August that the Bank of England has cut interest rates. At the previous two policy meetings, the Bank of England chose to stay on hold. Bank of England Governor Bailey chose to support the much-anticipated easing measure of cutting interest rates by 25 basis points after a series of recent data showed a downward trend in the UK's economic growth, job market, and price pressure.