On Thursday local time, the Bank of England announced a 25 basis point rate cut, in line with market expectations.
The current policy rate of the Bank of England is 4.5%, down from 4.75%.
Updating

- On Thursday, the Bank of England announced a 25 basis point interest rate cut, lowering the policy rate to 4.5%.  
- The Monetary Policy Committee voted 7 to 2 in favor of the cut, with officials expressing concerns over the economic outlook and inflation expectations.  
- The central bank now predicts inflation will peak at around 3.7% in Q3 2025, with a delayed return to the 2% target until Q4 2027, amid a revised economic growth forecast of 0.75% for this year.

The Bank of England cut interest rates by 25 basis points, in line with market expectations