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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.

The Bank of England made its first interest rate cut of 2025 on Thursday amid ongoing concerns over sluggish growth in the British economy.

Bank of England policymaker Catherine Mann said on Tuesday that her unexpected vote for a half percentage-point cut in interest rates last week did not mean she wanted a series of rate cuts or that she would vote the same way again in March.

The central bank responded to a troubling mix of stuttering economic growth, stubborn inflation and President Trump’s tariff threats.

Bank of England cuts main interest rate by quarter-point to 4.50% as British economy stagnates. 24/7 coverage of breaking news and live events

Mann was one of two members of the BoE's Monetary Policy Committee who last week voted for a half-point cut in interest rates to 4.25%, against the majority who favoured a quarter-point cut to 4.25%.

LONDON (Reuters) - The Bank of England cut interest rates by a quarter of a percentage point on Thursday, judging a sharp upward revision to its inflation forecasts for this year will prove temporary.