Bank of England forecast to cut interest rates amid rising unemployment and Trump tariffs

The Bank of England is expected to cut interest rates by 0.25% to 4% this week, aiming to support the weakening UK economy amid rising unemployment and global trade disruption caused by new U.S. tariffs under President Trump.

It would be the fifth cut since last August.

The UK economy has shrunk for two consecutive months, and job vacancies and wage growth are falling.

Despite easing pay pressures, inflation remains high at 3.6%, well above the 2% target, The Guardian has reported.

A split vote is likely on the Bank’s monetary policy committee, as concerns over rising food prices persist.

read more: https://www.theguardian.com/business/2025/aug/03/bank-of-england-interest-rates-cut-forecast-rising-unemployment-and-trump-tariffs

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