Bank of England keeps base interest rate at 5% amid inflation at 2.2%, signaling potential gradual cuts.

The Bank of England has kept its base interest rate steady at 5% after a previous cut, indicating potential gradual reductions if inflation remains low. The decision, supported by an 8-1 vote, reflects stable economic data, with inflation at 2.2%. Financial experts predict possible rate cuts in November and December, which could ease borrowing costs for mortgages. Households are advised to secure favorable mortgage rates amid ongoing inflation concerns.