Bank of England expected to cut interest rates

Bank of England is expected to cut interest rates to 4%, the lowest in over two years, due to a slowing economy. This move could benefit mortgage holders with reduced monthly payments but hurt savers with lower returns. The Bank of England may also address the economy's stagnation, prompting potential tax increases in the upcoming Autumn Budget. Savers could see further decline in savings rates with a decrease in the base rate, affecting their financial returns negatively.