UK inflation has surged to 3.5% in April, driven by rising household bills that weigh heavily on consumers. As prices climb, the impact on budgets becomes increasingly palpable, sparking concerns about the wider economic implications.
In a significant shift, the Bank of England has halved its growth projections for the UK, amid mounting economic pressures. In response, it has lowered the main interest rate to 4.50%, aiming to stimulate activity in a challenging landscape.
In a decisive move to bolster the faltering British economy, the Bank of England has announced a cut in interest rates. This shift aims to alleviate financial pressures and stimulate growth amid rising concerns about economic stability.