The Bank of England reduced interest rates by 25 basis points as scheduled, implying that weakening inflation is expected to further facilitate easing next year.

Wisdom Financial APP learned that the Monetary Policy Committee of the Bank of England decided on Thursday to cut the benchmark interest rate by 25 basis points to 3.75% with a 5:4 vote, the lowest level in nearly three years, in line with market expectations. This is the first rate cut by the Bank of England since August, as in the two previous policy meetings, the Bank of England chose to stay put. Bank of England Governor Bailey chose to support a 25-basis-point rate cut after a series of recent data showed a downward trend in UK economic growth, the job market, and inflationary pressures.