The Bank of England has cut rates to 5%, marking the first drop since March 2020, in a move which is certain to be given a warm welcome by business in Northern Ireland and elsewhere.
The Bank had held rates at a 16-year high of 5.25% since August 2023, as it attempted to tackle rising prices across the UK.
The last time rates were dropped was in the early days of the coronavirus pandemic. At that stage, they were slashed to a record low of 0.1% in an attempt to boost the economy.