Traders have ramped up their bets on the total number of BOE rate cuts in 2025 since January, as Europe diverges from the U.S.

Rate-setters are all but certain to announce a cut from 4.75% to 4.5% at the next Monetary Policy Committee meeting on Thursday.

Markets are betting on an interest rate cut at the first MPC meeting of the year, bringing the base rate to 4.5%

Markets have raised the prospect that the Bank of England will cut the base rate by up to four times this year, as fears of a global trade war rise.   US President Donald Trump has said he would impose tariffs of 25% on Mexico,

The Bank of England looks set to cut interest rates on Thursday for only the third time since just after the start of the COVID-19 pandemic in 2020, as it juggles the need to help the sluggish economy with still-strong inflation pressures.

Interest rates are expected to be cut by the Bank of England later, in a move closely watched by households and economists. Analysts predict the benchmark rate will be cut from 4.75% to 4.5%, as the Bank comes under pressures to boost the UK economy which has been showing slow growth.

A CNBC report revealed that economists are betting on the Bank of England cutting rates by 25 basis points from 4.75% to 4.5% in the Thursday Monetary Policy Committee meeting. The expected rate cuts come as the UK economy continues to stagnate,