The Bank of England has cut interest rates for the third time since the inflation crisis, taking the base rate to 4.5 per cent. The Monetary Policy Committee voted by seven to two to further reduce rates by 0.25 percentage points – a move that was widely expected by markets, but had been put into doubt after government borrowing costs surged in January and President Donald Trump announced his plans for substantial tariffs last week. Why have the Bank of England decided to cut rates?

Also today, Kemi Badenoch has announced some policy! Ahead of the Labour government’s Border Security, Asylum and Immigration Bill being debated in Parliament next week, the Tory leader has unveiled her party’s latest offering on immigration. But have they actually thought it through? 

Oscar Edmondson speaks to James Heale and Kate Andrews. 

Produced by Oscar Edmondson. 

Become a Spectator subscriber today to access this podcast without adverts. Go to spectator.co.uk/adfree to find out more.

For more Spectator podcasts, go to spectator.co.uk/podcasts.

Contact us: [email protected]