colletta smith reports. one, two, three...n your mortgage is never easy, and recently this family had been facing a bill of more any decrease would take a little bit of the strain off. and even if it was 50 quid off your mortgage payments, it's a lot of money for anyone. for a family of four. have reduced their long—term mortgage rates from those dizzying heights that we've seen over and today's cut from the bank of england direction is coming down. for today's reduction. for those on a variable rate, so a tracker, then a reduction would mean more than two thirds of the savings market is in variable rate products, which typically reduce after a base rate cut. that means that for antonia and her nine it would be nice to plan. got lisas, we've got normal savings accounts. will get the economy moving. colletta there. the prime minister sir keir starmer has interest rates cut. he was speaking to our political editor, chris mason. the rate is very welcome, that's the third cut interest rates since wirnteire’stirates since july in i

colletta smith, looks at what today's rate cut will mean for you. family thought that their mortgage here in selby yeah, exactly, it's a lot of money for anyone. and save but ultimately £150 is £150 and it's a lot of money for a family of four. by the direction of travel. of years, so today's announcement to cut interest rates from the bank direction is coming down. i think it's fantastic news. for business as well. in manchester umar had to lay off one of his four employees a while ago because trade has slowed down. do you have any business loans? yes, i have a business loan. it's good news, to be honest with you. 0h! just got even harder. it would be nice to plan, hey? normal savings accounts. get the economy moving. the bank of england's governor andrew bailey says interest rates in october was feeding through into lower confidence bristol's docs the currents of the world economy still flow fairly freely. this carrying 9000 cars freely. this is carrying 9000 cars to belgium. awaiting your 77 presiden7t7 77 presiden77t7trump, tariffs from presiden

colletta smith, bbc news.ril. speaking with him. at bristol's docks the currents of the world economy still flow fairly freely. which we have used before to describe the path, but we have also said we will have to be careful and that is because there is a lot more uncertainty. the path remains downward. a sluggish uk economy. just last month the bank predicted the economy would grow by 1.5% this year. growth is now predicted to be half that before it picks up next year. there have. 0uragents, and i go around the country talking to businesses, there is no question that the increase in interest rate since july of last year which means people watching this will have more money in their pocket and be better off. getting more power. right but there are clouds, domestically from tax rises, donald trump's trade policies. implemented because, as we are seeing this week, it and it's not good for growth here in the uk. across the economy cheaper borrowing costs are on the way participate the uk won't be immune from a gl