Bank of England Cuts Interest Rate First Time in 4-Years, Bitcoin Recovery Soon?
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Bank of England governor Andrew Bailey voted in favour of interest rate cut, however, adding that they would be watchful of inflation.
Highlights
BoE sets the stage ready for the Fed to proceed with interest rate cuts in September.
BoE governor Andrew Bailey, however, said that they won't be cutting rates too-often going ahead.
Bitcoin and altcoins stage minor recovery from the day's lows amid liquidity optimism.
In a breakthrough development, the Bank of England has decided to cut interest rates by 25 basis points moving it from 5.25% previously to now at 5.0%.
