Bank of England set to cut rates to 3.75% as economic data eases inflation concerns
Vote expected to pass by narrow majority and to hang heavily on the views of governor Andrew Bailey
Vote expected to pass by narrow majority and to hang heavily on the views of governor Andrew Bailey

Assessment from MPC adds to sell-off in gilts and prompts traders to increase bets on higher borrowing costs

Monetary Policy Committee says borrowing costs may need to rise if energy shock continues to hit global economy

Bank signals possible cut as soon as next month

Decision follows data showing UK inflation remains stubbornly above target

A policy projection would improve monetary policy transparency and reduce guesswork for businesses and investors

The UK’s central bank is making a Maradona-like feint with hawkish monetary policy signals