The Bank of England has halved its 2025 growth forecast and cut interest rates by a quarter-point to 4.5%. In a blow to UK chancellor Rachel Reeves, the BoE said it now expected the economy to grow by 0.75 per cent this year, half its November forecast of 1.5 per cent.

Bank of England cuts interest rates to 4.5% but UK growth downgraded - Bank MPC votes to cut borrowing costs but also slashes short-term growth forecasts for economy in blow to Rachel Reeves

The base rate is currently at 4.75% after it was held at the previous Bank of England meeting in December 2024 - but is another cut in store for this Thursday?

Mann's first vote for a cut during this cycle marked a departure from her comments in August, when she warned Britain not to be 'seduced' into believing that the battle against inflation is over, citing wage growth and related concerns in the services sector.

A cut to interest rates could mean lower mortgage rates.

The Bank of England is widely expected to cut interest rates for the third time in six months later Thursday even though inflation remains above its target.

MORTGAGE lenders have swiftly reduced their rates following the Bank of England’s decision to lower the base rate to 4.5% this afternoon. This move is set to benefit thousands of borrowers,

The Bank of England voted to reduce the base rate by 25 basis points at the first MPC meeting of the year, as widely anticipated