The central bank said future cuts would be gradual amid higher inflation forecasts after the new government introduced spending and tax increases in its budget.

Why has the Bank of England cut the interest rate and what does it mean for mortgages and inflation? - A lowering of the base rate to 5% suggests mortgage costs have peaked and inflation is coming und

The Bank of England has cut its main interest rate by a quarter of a percentage point after inflation across the U.K. fell below its target rate of 2%

The Bank of England cut interest rates but pointed to the uncertainty facing the global economy from fresh trade barriers and Middle East conflict

The Bank of England on Thursday said it was cutting its key interest further after UK inflation hit a three-year low and signalled more reductions, easing pressure on borrowers.

High inflation in Britain has not been vanquished and there is a risk that some drivers of price growth could be heading upwards, Bank of England interest rate-setter Catherine Mann said on Wednesday.

The Bank’s Monetary Policy Committee (MPC) announced on Thursday (7 November) that the rate would drop from 5% to 4.75%. Governor Andrew Bailey said that since UK inflation is now below the 2% target, the Bank was able to reduce rates to their lowest level since June last year.

The Bank of England cuts interest rates to 4.75% in line with expectations, continuing its easing cycle started in August.

Bank of England policymaker Catherine Mann said the central bank should keep interest rates on hold until upside risks to inflation - including those from the United States following the election of Donald Trump as the next president - dissipate.

Markets await US inflation for clues on further Fed rate cuts. Opus Energy has agreed to pay more than £7m in refunds, redress and goodwill payments after the regulator Ofgem found that the company overcharged almost 88,