![](https://i.guim.co.uk/img/media/cffd234c6726c156597b28bb41afbfaffa7fe729/0_0_5050_3031/master/5050.jpg?width=1200&height=630&quality=85&auto=format&fit=crop&overlay-align=bottom%2Cleft&overlay-width=100p&overlay-base64=L2ltZy9zdGF0aWMvb3ZlcmxheXMvdGctZGVmYXVsdC5wbmc&enable=upscale&s=e1e2a23a673f4e041eb8c38e900b0a1a)
Bank of England cuts interest rates to 5% in first reduction since March 2020
The Bank of England has cut interest rates for the first time since the start of the Covid pandemic, moving to ease the pressure on households after ratcheting up borrowing costs to combat the worst inflation shock in four decades. In a finely balanced …