Bank of England lowers base rate

UK - The Bank of England announced at 12pm on May 10 that the UK's main interest rate measure, the repo rate, would be reduced by 0.25% to 5.25%.

ARTICLE - The decision was made by the Bank of England's Monetary Policy Committee (MPC) who voted for the rate reduction this morning after a two day meeting. The previous change in interest rates was also down, a reduction of 0.25% to 5.5% on 5 April 2001.

The Bank of England issued the following statement following their decision to cut interest ra