The Bank of England (BoE) has confirmed that interest rates will be cut to 4.5% today, the lowest level since June 2023. Sue Robinson, Chief Executive of the National Franchised Dealers Association (NFDA), representing car and commercial retailers across the UK commented: “The Bank of England has reduced interest rates further to 4.5%, following cuts in August and November last year. This decision will help to ease some of the pressure on both consumers and dealerships amid ongoing economic uncertainty.”