The cost of borrowing has reached its lowest level since early 2023
The Bank of England's cut the base rate of interest to its lowest level in almost three years.
The Monetary Policy Committee voted to reduce it from four to 3.75 percent.
It had been widely expected - particularly given a sharp drop in UK consumer inflation yesterday.
Treasury Minister Alex Allinson says it's good news:
Inflation stays at 4.1% in September
Oils and petrol among categories seeing biggest price rises over last 12 months
Douglas Council could undergo independent review of its organisation
Leader submits a motion for debate in January
Christmas lunches at UCM's training restaurant
Annual lunches give students a chance to develop their skills
Children’s charity commemorates babies and infants with ribbon display
More than 80 have been tied to railings on Douglas Promenade
