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 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.

Reduction Made Despite Likely Rise In Inflation To 3.7% The Bank of England has trimmed its base lending rate from 4.5% to 4.25% in a bid to coun

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.