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 poised to extend its slow run of interest rate cuts on Thursday, reducing rates by a quarter point to 4.25%. Investors will be watching for any signs that it could soon pick up the pace as U.S. President Donald Trump's tariffs weigh on the world economy.

The Bank of England's interest rate cut on Thursday will bring a sigh of relief for borrowers, businesses and hard-pressed consumers across the country.

As expected, interest rates didn't budge today. You can blame tariffs. At the conclusion of its May 6-7 meeting today, the Fed voted to hold rates steady for the third consecutive time. Fed Chair Jerome Powell remains steadfast in monitoring labor market conditions and inflation pressures before making any cuts.

Here’s how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.

Fed Chair Jerome Powell announced the decision not to lower interest rates, remaining at 4.25 to 4.5.