Bank cuts interest rate
Bank of England
The Bank of England has made history by slashing the interest rate to an all- time low of 1.5%.
Borrowing costs fell by 0.5% to 1.5% - the lowest since the Bank was founded in 1694 - although some business leaders had wanted an even bigger cut.
The move will immediately benefit more than four million households with tracker mortgages but spells more misery for savers.