Interest rates live updates: Bank of England poised to cut interest rates in boost to mortgage holders

Analysts say some rate-setters could even push for cut of 0.5%

Sandra Horsfield, an economist for Investec, said it is a “near-certainty” that the Bank of England will reduce borrowing costs on Thursday, with most participants in the financial markets pricing in a rate cut.

And analysts even said some members of the central bank’s monetary policy committee could push for a larger 0.5 percentage point cut – in a bid to reduce borrowing costs further and ease pressure on households and businesses.

Andy Gregory8 May 2025 07:05

Bank of England poised to cut interest rates

The Bank of England is poised to cut interest rates as the threat of an escalating global trade war looms and the economic growth outlook worsens.

Most economists think UK interest rates will be reduced to 4.25 per cent from their current level of 4.5 per cent on Thursday.

Anna Wise has more in this report:

Andy Gregory8 May 2025 07:00