Rate cut is move in right direction

YESTERDAY'S interest rate cut was another boost for homeowners with mortgages.

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It is the fifth cut since August and provides welcome relief to borrowers.

The Bank of England's decision also draws a contrast between the stability of Labour and the chaos of the Tories.

As prime minister, Liz Truss's disastrous mini budget sent the markets into a spiral and led to a hike in interest rates.