Business Live with Ian King: Bank of England expected to hold interest rate at 5.25%

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On Business Live with Ian King, we look ahead to the Bank of England's announcement on interest rates in the UK.

Stock markets have soared globally after the US Federal Reserve hinted that interest rate cuts lay ahead - a signal that is unlikely to be repeated on this side of the Atlantic.

The FTSE 100 was almost 2% higher - aided by a weakening dollar - while the more domestically focussed FTSE 250 was 3% up on the hope borrowing costs would soon start to ease in the world's largest economy.

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