The Bank also forecast a significant slowing of the US economy hit by its own tariffs. The Bank also said the impact of the National Insurance was "fairly small to date". The Bank of England has cut interest rates from 4.5% to 4.25%. We'll bring you more on this shortly, including the breakdown of how the Bank's committee voted. Stay with us.

The Bank of England slashed interest rates to 4.25 per cent on Thursday and warned that Donald Trump’s global tariff war will hit economic growth over the next three years in the UK. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Bank of England's interest rate cut on Thursday will bring a sigh of relief for borrowers, businesses and hard-pressed consumers across the country.