Bank of England Cuts Base Rate to 4.5%: Impact on Mortgages, Savings, and Loans

• The Bank of England has reduced the base interest rate to 4.5%, the lowest in over 18 months, with further cuts expected by 2025.
• Fixed mortgage holders will see no immediate change, but those on tracker rates will benefit from a 0.25% drop, while variable rate savers may see a similar decrease.
• Credit card rates remain high, but new loan rates might slightly decrease; savers should act quickly to secure the best rates.

Source: Express, Express, Manchester Evening News