The cost of borrowing is expected to fall to its lowest point in more than 18 months on Thursday.Senior economists at the Bank of England will announce whether they are cutting the UK's base interest rate, which currently sits at 4.75%.Most experts predict a quarter point reduction to 4.5%, continuing a series of cuts which started last summer.The base rate helps dictate how expensive it is to take out a mortgage or a loan, while it also influences the interest rates offered by banks on savings

The cost of borrowing is expected to fall to its lowest point in more than 18 months on Thursday.Senior economists at the Bank of England will announce whether they are cutting the UK's base interest rate, which currently sits at 4.75%.Most experts predict a quarter point reduction to 4.5%, continuing a series of cuts which started last summer.The base rate helps dictate how expensive it is to take out a mortgage or a loan, while it also influences the interest rates offered by banks on savings accounts.