The Bank of England is widely expected to cut interest rates for the third time in six months later Thursday even though inflation remains above its target.

Good morning. The Bank of England is expected to cut interest rates today. US Treasury Secretary Scott Bessent is focused on lowering yields, not rates. And Man City’s trouble is spreading from the pitch to politics.

The Bank of England looks set to cut interest rates on Thursday for only the third time since just after the start of the COVID-19 pandemic in 2020, as it juggles the need to help the sluggish economy with still-strong inflation pressures.

The base rate peaked at 5.25% in late 2023, but policymakers reduced it to 4.75% throughout the following months. The Bank of England typically raises interest rates when inflation is high to curb spending and slow price increases.

The base rate is currently at 4.75% after it was held at the previous Bank of England meeting in December 2024 - but is another cut in store for this Thursday?

Markets are betting on an interest rate cut at the first MPC meeting of the year, bringing the base rate to 4.5%

The Bank of England will cut interest rates six times this year despite signs that inflationary pressures might be on the rise again.

A CNBC report revealed that economists are betting on the Bank of England cutting rates by 25 basis points from 4.75% to 4.5% in the Thursday Monetary Policy Committee meeting. The expected rate cuts come as the UK economy continues to stagnate,