The Bank of England has cut the Base Rate by 0.25% to 4.75%, marking the second reduction this year. This follows a hold in September after the first decrease since 2020 in August.
The Bank meets every six weeks to set interest rates to manage inflation and maintain a healthy economy. As of October, inflation dropped to 1.7%, below the government's 2% target.
As of the 1st April 2025, the thresholds that you start paying Stamp Duty will be reverting to what they were previously before the current temporary higher threshold was introduced.
