Bank of England cuts UK interest rates in boost for mortgage holders - Experts had predicted the Bank of England would cut the UK’s base interest rate, which currently sits at 4.75 per cent, to 4.5 pe

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.