Bank To Cut Rates?

It is expected that the Bank Of England will cut interest rates by 0.25% when it meets later this week in an effort to prevent a recession.

Such a move could save around £32 per month off a typical mortgage of around £200,000, assuming that banks pass on the full rate cut immediately. But the Bank will be worried about the fine balancing act as such a rate drop might encourage people to save more, instead of paying off outstanding debts.