The base rate is currently 4.5% - most analysts expect a cut to 4.25% Thanks for joining us for the Bank of England’s decision on interest rates, which comes just after midday. The Bank’s rate, which dictates borrowing costs for households and businesses - such as mortgages and loans - currently stands at 4.5%.

The Bank of England is cutting its main interest rate by a quarter of a percentage point to 4.25% amid concerns over the potential shock to global growth emanating from the tariff policies of the Trump administration.

The Bank of England cut interest rates on Thursday to tackle the expected hit from U.S. President Donald Trump's tariffs but a surprise three-way split among policymakers cooled expectations that it might speed up future moves.