The Bank of England has cut the base rate to 3.75%, taking it below 4% for the first time since January 2023. Many economists and experts had been expecting rates to fall after they were held at 4% last month. Lower-than-expected inflation of 3.2%, softer wage growth and a slowing of economic activity had all increased expectations of a cut. Follow live on our Money blog: https://news.sky.com/story/money-latest-interest-rate-mortgages-inflation-personal-finance-consumer-news-13040934 SUBSCRIBE to our YouTube channel for more videos: http://www.youtube.com/skynews Follow us on Twitter: https://twitter.com/skynews Like us on Facebook: https://www.facebook.com/skynews Follow us on Instagram: https://www.instagram.com/skynews Follow us on TikTok: https://www.tiktok.com/@skynews For more content go to http://news.sky.com and download our apps: Apple https://itunes.apple.com/gb/app/sky-news/id316391924?mt=8 Android https://play.google.com/store/apps/details?id=com.bskyb.skynews.android&hl=en_GB Sky News Daily podcast is available for free here: https://podfollow.com/skynewsdaily/ To enquire about licensing Sky News content, you can find more information here: https://news.sky.com/info/library-sales