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Recession fear turns screw on Bank of England to cut interest rates

^{Published on 2024-12-16 12:21:05 - Daily Express}
 

• News last week that the UK economy has shrunk for two months in a row has triggered fears of a recession. At the same time, central banks in Europe, the USA and China have been cutting interest rates to head off a slowdown in key economies around the globe.

The article from Express.co.uk discusses the potential for the Bank of England to cut interest rates in response to fears of an impending recession. It highlights that despite the Bank's previous efforts to control inflation through rate hikes, economic indicators now suggest a slowdown, prompting speculation about a policy shift. Analysts and financial experts cited in the article express concerns over declining business activity, rising unemployment, and a significant drop in consumer confidence. There's mention of the Bank's recent decision to maintain rates but with a dovish tone, hinting at future cuts to stimulate economic growth. The piece also touches on the political pressure on the Bank to act, given the economic challenges, and the potential impact of lower rates on mortgages, savings, and overall economic recovery. However, it notes that any decision would be data-driven, focusing on inflation trends and economic output.

Read the Full Daily Express Article at:
[ https://www.express.co.uk/finance/personalfinance/1989446/recession-fear-bank-of-england-cut-interest-rates ]

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