The Bank of England(BoE) has cut interest rates by 25 percentage points in a move that could reduce pressure for some mortgage holders and home buyers.
The Monetary Policy Committee (MPC) was widely expected to reduce the base rate by 0.25 percentage points to 4%, with the announcement made at midday. It marks the fifth reduction in the base rate since August 2024, when rates began to steadily fall from a peak of 5.25%. Many will be hoping that the BoE lowering the base rate will spark an influx of cheaper deals for mortgage holders and home buyers entering the market.
THIS BLOG HAS CLOSED NOW BUT YOU CAN STILL READ OUR COVERAGE BELOW.
You may also like
Priest attacked with bottle by man who walked into Downpatrick church before mass
Maureen Lipman admits Coronation Street made her consider plastic surgery
Stop eating avocado toast and use 1 vegetable instead for a lush 'savoury-sweet treat'
Coronation Street Jane Hazelgrove's real romance with Emmerdale star wife
'I sold my face to AI for £1,500 - now I'm terrified I'm trapped in a nightmare'
