The Bank of England cut interest rates on Thursday as the outlook for economic growth dims, taking a different path from the Federal Reserve.The U.K. central bank lowered its key rate to 4.5% from 4.75%,

The Bank of England could cut interest rates only twice more, including once at this week’s meeting, pausing rate reductions by the second half of the year, Berenberg’s Andrew Wishart says in a note.

In its first meeting of 2025, the bank’s Monetary Policy Committee voted seven to two in favour of the drop from 4.75 per cent.