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Interest rates and Bank Rate - Bank of England Bank Rate is the single most important interest rate in the UK In the news, it's sometimes called the ‘Bank of England base rate’ or even just ‘the interest rate’
BoE votes to cut the base rate to 4. 5% – what it means for you Why has the Bank of England base rate been cut? Changing the base rate is the Bank of England's way of controlling inflation and influencing UK economic growth The base rate rose between the end of 2021 and the middle of 2023 when it reached a high of 5 25% and remained at this level until the Bank of England began easing it in August 2024