The Bank of England has reduced its primary interest rate by 025 percentage points to 475 percent following a significant drop in UK inflation which now sits at 17 percent

Bank of England Governor Andrew Bailey stuck to his script outlining gradual interest rate cuts on Thursday, but Donald Trump's White House return and threats to impose tariffs could force a hasty rewrite,

The Bank of England has cut its main interest rate by a quarter of a percentage point after inflation across the U.K. fell below its target rate of 2%.