Urgent.. The Bank of England decides to cut interest rates for the second time this year.

The Monetary Policy Committee of the Bank of England issued its interest rate decision after the conclusion of its November meeting, where the bank decided to lower interest rates by 25 basis points, bringing the main interest rate to 4.75%. This decision was in line with market expectations, after the Bank of England kept the interest rate at the level of 5.00% for two consecutive meetings.

The decision issued today by the Bank of England reflected a divergence in the voting of the members of the Monetary Policy Committee, with 8 members voting to maintain the interest rate, while one member voted for a rate cut. The change in the interest rate decision is the main focus of the monetary policy statement issued by the bank, as it has a significant impact on currency and commodity markets.

Typically, traders closely monitor interest rates, as short-term interest rates are a key factor in the value of a currency. If the Bank of England is optimistic about inflation expectations in the economy and decides to raise interest rates, this positively affects the British pound. Conversely, if the bank holds a neutral view on the British economy and keeps interest rates unchanged or lowers them, this will negatively affect the pound.