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 cut its main interest rate for the third time in six months with the British economy struggling to post any meaningful growth. In a statement Thursday, the bank said the nine-member Monetary Policy Committee lowered its main interest rate by a quarter of a percentage point to 4.

The Bank of England base rate can affect everything from your mortgage to the rates applied to credit cards - we round up everything you need to know following the latest announcement