The latest cut to interest rates reflects the choices this government has made to restore economic stability, says Rachel Reeves

The latest interest rate cut is another sign that we have returned stability to the British economy.

The Bank has now reduced rates from four per cent to 3.75 cent, the sixth cut since the election and the fastest pace of reductions in 17 years. Inflation has fallen from 3.6 percentage points to 3.2 percentage points, lower than the Bank’s forecast.

This is not happening by chance. It reflects the choices we’ve made to restore economic stability, and to give businesses and households the certainty they need to plan and invest.

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