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Stock Analyst Update

Will the Bank of England Rate Cut Work?

UK interest rates have been cut for the first time in more than seven years as the Bank of England moves to boost the economy in the wake of the Brexit vote.

UK interest rates have been cut to a new record low of 0.25%. More than seven years after the Bank of England cut rates to 0.5%, economic concerns following the Brexit vote have led the Monetary Policy Committee to vote for a further rate cut.

Bank Governor Mark Carney announced at midday today that the MPC had voted to cut interest rates to 0.25% at 9 member votes to 0.