BoE cuts rates to 4.25% as it sees tariff hit to growth

People walking in front of the Bank of England in London. — Bloomberg

LONDON: The Bank of England cut its main interest rate by 0.25 percentage points to 4.25% on Thursday, despite an unexpected three-way split among policymakers as U.S. President Donald Trump's tariffs weigh on global economic growth.

The BoE's rate-setters voted 5-4 in favour of the decision to cut borrowing costs by a quarter point.