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World Business Report

BBC World Service

Business, Business News, News & Politics

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Business News 40

The latest business and finance news from around the world from the BBC

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Bank Of England Cuts Interest Rates

August 4th, 2016

Episode 793 of 900 episodes

The Bank of England has cut interest rates from 0.5% to 0.25% - a record low and the first cut for 7 years. We explore the winners and losers and what impact it will have on other central banks around the world. We'll get reaction from the US where the Federal Reserve looks like its uncertain about raising interest rates later this year, despite promising several rate hikes in 2016. We hear from Nigeria where the country is engulfed in a tomato crisis - where moths are eating swathes of tomato fields - hiking up prices and devastating businesses. And are you spending too much time surfing the web? We hear from users who are going on a digital detox.

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