Rates are now at their lowest since March 2023 even though inflation is well above target.

The Bank of England cut interest rates on Thursday but four of its nine policymakers - worried about high inflation - sought to keep borrowing costs on hold, suggesting the BoE's run of rate cuts might be nearing an end.

The Bank of England has cut its main interest rate by a quarter percentage point to 4%, as policy makers seek to bolster the sluggish U.K. economy.