The UK’s base interest rate is expected to drop to its lowest level in over 18 months, with analysts predicting a cut from 4.75% to 4.5% by the Bank of England in its upcoming announcement on Thursday. This decrease is seen as a positive development for mortgage holders, as the base rate influences borrowing costs, including tracker mortgages. The potential rate cut comes amidst falling inflation rates and economic stagnation, with hopes that lower interest rates will boost spending and stimulate the struggling economy.
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