Several members on the Bank of England’s Monetary Policy Committee have warned that sticky inflation could stall further interest rate cuts this year in marked contrast to current analyst expectations.

The Bank also forecast a significant slowing of the US economy hit by its own tariffs. The Bank also said the impact of the National Insurance was "fairly small to date". The Bank of England has cut interest rates from 4.5% to 4.25%. We'll bring you more on this shortly, including the breakdown of how the Bank's committee voted. Stay with us.

The Bank of England is widely expected to cut interest rates on Thursday as a result of the potential shock to growth emanating from the tariff policies of the Trump administration