Bank of England signals further easing after rate cut, slashes growth outlook NBC Boston [Video]

• The Bank of England made its first interest rate cut of 2025 on Thursday, amid ongoing concerns over sluggish growth in the British economy.
• Economists had widely expected the central bank to trim rates, following a spate of lackluster U.K. growth data.
• The central bank halved the growth forecast it expected the U.K. to see in 2025, from 1.5% to 0.75%.

The Bank of England made its first interest rate cut of the year on Thursday, signalling further cuts were to come as it downgraded the U.K.’s growth forecast for 2025.

The central bank cut its benchmark interest rate by 25 basis points to 4.5%, with a majority of seven members out of the nine-strong monetary policy committee voting in favor. Two of the MPC’s members had voted for a larger cut of 0.5 percentage points.

Andrew Bailey, governor of the Bank of England, told reporters that the central bank …