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here s where the bank s base rate stands at the moment at 5.25% it is the highest in 15 years. the bank has raised the cost of borrowing fourteen times to try and tame soaring prices but inflation has eased sharply in recent months and the expectation now is that rates may soon start to come down. however, for those in the uk hoping for cheaper mortgages and loans there was something of a bad omen in the us, where the chair of the federal reserve seemed to dash expectations of a rate cut next month. as michelle fleury reports. the fourth meeting in a row, the federal reserve did not raise interest rates. this is the longest pause since policymakers began their aggressive rate campaign to tame inflation back in march of 2022. but for rate weary americans, well, they will likely have to wait a few more months to see any relief, given these comments by the federal chair. based on the meeting today, i would tell you that i don t think it s likely that the committee will reach a

Weight lossEurope sDrug makerBudget dayMoney storiesYou justjoinedNick of timeAndrew baileyInterest ratesBank of englandBase rate stands5 25Federal reserveRate cutMichelle fleury reportsWeary americans