The Bank of England has cut its interest rate today by another 0.25% taking the UK interest rate to 4.75%. This latest cut goes on top of the 0.25% cut made in September to bring UK intertest rates down by half a percentage point this year. Whilst the Labour budget was seen as an inflationary action, the BoE believe inflation remains on a steady path towards 2% even with the budget in play. However, the governor did qualify this by remarking that he wanted to avoid cutting rates by too much, too fast in the future. The Gilt market was stable on the announcement up just 0.1% at the time of writing.