Bank of England is set to cut interest rates despite potential new inflation worries

Associated Press

LONDON (AP) — The Bank of England is set to cut interest rates for the second time in three months as inflation has fallen to its lowest level in more than three years. But economists warn that worries about the future path of prices following last week’s tax-raising budget from the new Labour government and the economic impact of President-elect Donald Trump may limit the number of cuts next year. But the Bank of England is widely expected to reduce its main interest rate on Thursday by a quarter of a percentage point to 4.75%.