FXstreet.com (Barcelona) - The Bank of England has decided to reduce interest rates to 5.50% from the previous 5.75% after their monthly Policy Meeting Committee.

The Bank, as usual has not given any further explanation, further details about the decision will be given at the meeting's minutes due the 19th of December.

The Central bank made the decision on the lights of weak services data plus the poor performance in retail sales registered in November.