Chancellor: Interest rate cut is 'welcome news for millions'

Rachel Reeves has praised the interest rate cut as "welcome news for millions of families". However, the chancellor, who raised taxes by £40bn in her first budget last week, said she is "under no illusion about the scale of the challenge facing households". Read more: https://news.sky.com/story/money-interest-rate-inflation-bank-of-england-consumer-news-latest-live-13040934 #interestrates2024 #costofliving #chancellor SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí: https://www.youtube.com/channel/UCzG5BnqHO8oNlrPDW9CYJog To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales