Bank cuts interest rates but the elephant in the room is Republican
What happens next to interest rates could be affected by how Donald Trump behaves in power, writes ITV News' Business and Economics Editor Joel Hills.
What happens next to interest rates could be affected by how Donald Trump behaves in power, writes ITV News' Business and Economics Editor Joel Hills.
It is the second reduction in rates this year and is the first time rates have been below 5% since June 2023.
Rates reduced by 0.25% to 4.75% - the second cut this year.