The Bank of England is poised to cut interest rates as it grapples with slowing economic growth and lingering inflation. Investors expect the BoE to cut its benchmark rate by 0.25 percentage points to 4 per cent when it announces the decision at midday in London.

Rates are now at their lowest since March 2023 even though inflation is well above target.

The Bank of England (BoE) on Thursday lowered UK interest rates by a quarter point, marking its fifth cut in 12 months, although nearly half of its policymakers voted to keep borrowing costs unchanged,