The United Kingdom's (UK) interest rates have been cut for the first time in more than four years by the Bank of England amid slowed inflation signs. The bank reduced rates from 5.25% to 5% following a vote by the Monetary Policy Committee. "Inflationary pressures have eased enough that we've been able to cut interest rates today," Governor Andrew Bailey, who voted for a cut, said. He also signalled that the central bank was going to be careful not to cut rates too quickly going forward. Source: Oman News Agency