Today the Bank of England (BoE) has confirmed that it will cut interest rates to 4.0%. The cut, from 4.25%, is the fifth the BoE has announced since August last year. Sue Robinson, Chief Executive of the National Franchised Dealers Association, representing car and commercial retailers across the UK commented: “As expected, the Bank of England has once again decided to cut interest rates after holding at 4.25% in June. Previously, the BoE cut interest rates in February to 4.5% and again in May to 4.25%. NFDA welcomes this decision as it will continue to help ease pressure on both consumers and dealers.”