Reported about 11 hours ago
The Bank of England has lowered its interest rate to 4.5%, marking its lowest point in 20 months, providing relief to mortgage holders in the UK. This decision follows a decline in inflation to 2.5% and is part of a series of cuts aimed at easing borrowing costs. Governor Andrew Bailey stated the Bank will adopt a cautious approach to future rate adjustments, while the economic forecast for UK growth has been downgraded to 0.75% for the year. Mortgage holders can expect immediate reductions in monthly payments, particularly those with tracker mortgages.
Source: YAHOO