Bank cuts interest rates to 4.25% as tariff tensions dampen growth

The Bank of England cut the UK’s base interest rate from 4.5% to 4.25% (Yui Mok/PA) - (PA Archive)

The Bank of England has cut interest rates to its lowest level for two years as it warned that an escalating global trade war will drag on growth over the next three years.

The central bank cut the UK’s base interest rate from 4.5% to 4.25% following a slowdown in inflation in recent months.