Economic Buzz: Bank of England lowers key interest rate for fifth time in last one year

Mumbai, Aug. 7 -- The Bank of England lowered its key interest rate for the fifth time in a year as it seeks to balance a recent pickup in inflation against a cooling jobs market. The Bank of England cut interest rates on Thursday but four of its nine policymakers - worried about high inflation - sought to keep borrowing costs on hold.Governor Andrew Bailey and four colleagues trimmed Bank Rate to 4% from 4.25%.

Published by HT Digital Content Services with permission from Capital Market....