Old Lady mulled another mammoth move

The Bank of England's Monetary Policy Committee (MPC), which slashed rates by a percentage point to take them to an all-time low earlier this month, considered backing an even larger move, the minutes of the meeting reveal.

The committee cut the benchmark bank rate to 2% on 4 December.

The minutes of the meeting, published Wednesday, said: "The committee agreed that, given the significant probability of undershooting the inflation target in the medium term, a cut of at least 100 basis points

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