The Bank also forecast a significant slowing of the US economy hit by its own tariffs. The Bank also said the impact of the National Insurance was "fairly small to date". The Bank of England has cut interest rates from 4.5% to 4.25%. We'll bring you more on this shortly, including the breakdown of how the Bank's committee voted. Stay with us.

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.

The Bank of England cut rates, highlighting a growing gap in how global central banks and the Federal Reserve are approaching Trump’s tariffs.