Bank of England cuts interest rates for first time in four years: Knife-edge decision marks a shift in direction
![Bank of England cuts interest rates for first time in four years: Knife-edge decision marks a shift in direction](https://i.dailymail.co.uk/1s/2024/08/01/21/88056967-0-image-m-5_1722542755408.jpg)
Traders are betting on two more reductions this year. However, Bailey warned that the Bank must 'be careful not to cut interest rates too quickly'.