Interest rates cut
The Bank of England announced a rate cut at the latest Monetary Policy Committee (MPC) meeting earlier today.
Analysts widely expected the MPC to cut rates following the US Federal Reserve's decision to cut interest rates to help stem a global recession.
The UK interest rate now stands at 5.25%. The MPC said that the cut was made in order to pre-empt a rise in CPI inflation, which is expected to increase in line with energy and food price increases.
