What the interest rates cut means for mortgages, pensions and savings

The Bank of England has cut UK interest rates from 4.25% to 4%, impacting mortgage and savings rates. Mortgage repayments for standard variable rate mortgages could decrease by £40 a month, while savings rates are expected to fall further, affecting savers negatively. The rate cut aims to boost spending and growth in the economy but could lead to rising inflation and slower wage growth, impacting jobs and businesses.