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The Independent UK
The Independent UK
Albert Toth and Jabed Ahmed

How will the interest rate cut affect you? From inflation to mortgages

Bank of England Inflation Interest Rates
Interests rate are expected to be cut (Dominic Lipinski/PA) - (PA Wire)

The Bank of England has announced interest rates have been cut for a second time this year.

The Bank’s base rate has dropped from 5 per cent to 4.75 per cent, following on from a similar cut in August. The change will make the cost of borrowing cheaper in the UK, but also lessens returns on savings.

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