Experts predict the Bank of England will cut the UK’s base interest rate, which currently sits at 4.75 per cent, to 4.5 per cent

The Bank of England has cut its base interest rate from 4.75 per cent to 4.5 per cent, marking a shift in monetary policy as it seeks to support economic growth.

The Bank of England is widely expected to cut interest rates for the third time in six months later Thursday even though inflation remains above its target.