The Bank of England cut interest rates from 4.25% to 4% on Thursday as the central bank resumes a "gradual and careful" approach to lowering interest rates.

Borrowing costs are forecast to fall to 4%, the lowest since early 2023, despite higher inflation.

Quarter-point reduction expected, with City investors predicting a three-way split among rate setters

Monetary Policy Committee members are likely to vote on a cut down to 4 per cent which will hamper savings but boost the mortgage market

Experts think the Bank's Monetary Policy Committee (MPC) will reduce the base rate by 0.25 percentage points to 4 per cent at lunchtime.

La Bank of England (BoE) ha annunciato, come da attese, un taglio dei tassi d'interesse britannici di un quarto di punto al 4% malgrado i dati sull'inflazione in aumento. (ANSA)

La Bank of England (BoE) ha annunciato, come da attese, un taglio dei tassi d'interesse britannici di un quarto di punto al 4% malgrado i dati sull'inflazione in aumento. (ANSA)

The Bank's Monetary Policy Committee (MPC) reduced the base rate by 0.25 percentage points to 4 per cent at lunchtime.

The Bank of England cut interest rates from 4.25% to 4% on Thursday as the central bank resumes a "gradual and careful" approach to lowering interest rates.

Base rate cut by quarter point to 4% amid concern about strength of UK economy

Monetary Policy Committee members have voted on a cut down to 4 per cent which will hamper savings but boost the mortgage market