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 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.

The Bank of England on Thursday lowered its interest rates for the second time this year as the U.K. central bank responds to cooling inflation and signs of a slowing economy.