💨 Abstract

The Bank of England may cut interest rates by 0.25% to 4.25% today, the fourth consecutive reduction. After raising rates 14 times post-Covid to combat inflation, this move aims to support the economy. If approved, mortgages tied to the base rate (tracker and SVR) may see lower repayments, while fixed-rate mortgages and remortgages might be unaffected or see higher rates.

Courtesy: metro.co.uk

Summarized by Einstein Beta 🤖