The Bank of England is poised to cut interest rates as it grapples with slowing economic growth and lingering inflation. Investors expect the BoE to cut its benchmark rate by 0.25 percentage points to 4 per cent when it announces the decision at midday in London.

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.

Interest rates have been slashed to 4% this afternoon, marking the fifth cut since last August - and taking the cost of borrowing to its lowest level in more than two years