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Investing.com -- The Bank of England (BoE) reduced its main interest rate by 0.25 percentage points to 4.25% on Thursday. This decision was announced during a press conference, where Governor Andrew Bailey emphasized that interest rates are not set on "auto-pilot".
Bailey further elaborated that the central bank must continue to adapt to the changing economic conditions and the inflation outlook. He emphasized the necessity for the bank to respond carefully and thoughtfully to these evolving circumstances. His comments underline the central bank’s commitment to active monitoring and management of the country’s economic situation, rather than relying on predetermined rate paths.
This latest rate adjustment by the BoE is a direct response to the current economic conditions, demonstrating the central bank’s active approach to monetary policy.
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