The Bank of England announced on Thursday that it will lower the main key interest rate by 0.25 percentage points to five percent.
It is the first time that the country’s central bank has lowered the key interest rates in more than four years.
Calculating the key interest rate is a key tool that central banks use to curb inflation, i.e. the rise in consumer prices.
In Britain, inflation has already fallen and reached the two percent target set by the central bank.
Source: AP