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:
Boutique hotel planned for Peel
Plans also include improvements to nearby Castle Street Gardens
Former TT rider's family at risk of losing house after rejected insurance pay out
Helayna Ingham, wife of Daniel Ingham, posted an emotional plea on social media
Dog wash machine planned for promenade
It would allow people to wash and dry their dogs on the go
Businesses can bloom if people support local
Ellan Vannin Candles and Soapery opened today