The Bank of England's Monetary Policy Committee has reduced the bank rate by 0.25 percentage points, marking the second cut this year. Governor Andrew Bailey noted that inflation is just below the target of 2%, and while rates can continue to fall gradually, caution is necessary. Recent inflation data shows a drop to 1.7%, the lowest in over three years. The decision follows Chancellor Rachel Reeves' budget announcement of £70bn in extra spending, which may lead to higher inflation next year. Additionally, former President Donald Trump's potential tax cuts and tariffs could have inflationary effects. Teljes cikk (Euronews.com)