The Bank of England needs to move cautiously with cutting interest rates because the long process of wrestling down inflation is not yet complete, BoE Chief Economist Huw Pill told Reuters. A week after the central bank cut rates for only the third time since raising them to a 14-year high in 2023,

The Bank of England made its first interest rate cut of 2025 on Thursday amid ongoing concerns over sluggish growth in the British economy.

The Bank of England is widely expected to cut interest rates for the third time in six months later Thursday even though inflation remains above its target.

Mann was one of two members of the BoE's Monetary Policy Committee who last week voted for a half-point cut in interest rates to 4.25%, against the majority who favoured a quarter-point cut to 4.25%.

Bank of England policymaker Catherine Mann said on Tuesday that her unexpected vote for a half percentage-point cut in interest rates last week did not mean she wanted a series of rate cuts or that she would vote the same way again in March.