UK Economy: Bank of England cuts interest rate to 5%

Good news for homeowners with mortgages as interest rates have been cut for the first time in more than four years.

The Bank of England reduced them to 5% from 5.25% where they'd been held since last August.

Economics Correspondent Helia Ebrahimi caught up with the Governor of the Bank of England, to ask him why rates have finally come down.
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[MONROEJACQ]

With Bank of England Governor Andrew Bailey holding a news conference about a potential interest rate cut, a lot of people are wondering how this could impact their savings, investments, and financial stability. The prospect of a rate cut is usually a mixed bag: while it can make borrowing cheaper, it often means lower returns on savings accounts and potentially more volatility in investment markets

[MunterPunter]

What a lovely daughter and son that lady has. We need more of this, not division.

[SlayerEddyTV]

Richard Murphy has a new YouTube video explaining the Bank of England fuelling inflation. How the BoE works needs to be reformed.

[KSweeney]

£1200 a month! That’s a massive pension. So many people are just on state.

[AWEngineerGB]

I get annoyed when someone says it's unrealistic to own property one day. Maybe in your preferred neighbourhood or postcode. Starter homes in Scotland (for example) are quite affordable. You might need a few moves and ladder steps, but you can get a bigger house by making the right moves.

[KM-mnmo]

UK economy is already in Recession & there will be crash in London Stock Exchange in coming months 😂😂😂😂😂

[JJB]

Love listening to news as it gives you what they want you to know, you’ll never find the boe getting interviewed by anyone mainstream.

[KM-mnmo]

Inflation in UK rising to 2.3% & if there's rate cut, that means more inflation 😂😂😂😂😂

[SalimSharif-eo]

CHECK
1. BEFORE LEAVING PLACE

2. BEFORE START

3. AFTER FREE TIME

[floramercury]

By the way he’s talking there’s no need to relax then - he seems nervous 😬

[stephenmurray]

Great. Responsible savers punished again

[coderider]

Prices will go up if rates come down. It’s a seesawing effect ?

[Dark_Embracer]

Mortgage holders who are seeing their mortgage payments go up each month, Renters who are seeing their rents go up, Government can't afford it either they can't afford high interest rates. Also high interest rates is holding back Growth in the economy. Interest rates have to go down to 0.1% now that inflation has come down to 2% at the Bank of England's target of 2% inflation.

[sylvias]

The Bank of England doesn't know what happens next ?
Oh Dear

[TrustMeiamaD.R.]

Greedflation he means.
Have you Poms found the Track n trace money yet?

[_Pence]

He was told to lose some weight and the cigar. Lets all join hands and say thanks in unison

[GuitarTeacherBushey]

Everyone knew what was coming next except Andrew Bailey 😂

[chadwick]

This cut meant nothing. Inflation still high

[JJB]

Inflation isn’t down haha, don’t listen to the CPLie. It was very clear from the boe in this that inflation is most definitely having another big hit.

[titteryenot]

Channel 4 won’t let us comment directly on the Southport dude (which, let’s face it, is undisguised censorship), so here’s my indirect comment: Truth is, what happened in Southport, Hartlepool and Downing St. was a genuine manifestation of how millions feel in the UK apropos mass immigration. The political class will ignore this at their peril. To put some figures on this, net immigration to the UK in 2023 was 685, 000. The UK currently has 67 million. That’s a full 1% of the population immigrating as a proportion in 1 year! No wonder so many people feel like their home is being invaded. Literally.