I’m about to head into this magnificent building behind me where, along with other journalists, I’ll be told what the latest decision is on UK interest rates. The strong expectation is that there’ll be a cut from 4.5% to 4.25%, which will be welcome news to people borrowing money.

The Bank of England is poised to extend its slow run of interest rate cuts on Thursday, reducing rates by a quarter point to 4.25%. Investors will be watching for any signs that it could soon pick up the pace as U.S. President Donald Trump's tariffs weigh on the world economy.

Reduction Made Despite Likely Rise In Inflation To 3.7% The Bank of England has trimmed its base lending rate from 4.5% to 4.25% in a bid to coun

President Donald Trump’s sweeping tariffs have clouded the central bank’s economic outlook, leaving it in wait-and-see mode.

As expected, interest rates didn't budge today. You can blame tariffs. At the conclusion of its May 6-7 meeting today, the Fed voted to hold rates steady for the third consecutive time. Fed Chair Jerome Powell remains steadfast in monitoring labor market conditions and inflation pressures before making any cuts.

Here’s how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.