The decision will come as little surprise to financial markets, with the 0.25 basis point cut widely predicted by analysts.

The last decision in December was a hold, but today's cut is the third since August 2024 with interest rates having fallen 0.75 percentage points since the 5.25 per cent peak.

The next decision is on 20 March.

We explain what the Bank of England's decision to cut rates to 4.5 per cent means for your mortgage and savings - and whether rates will be cut again soon.

What does this mean for savers?

The base rate affects ...