India, May 8 -- The Bank of England is set to cut its benchmark interest rate by a quarter-point on Thursday, to cope with the economic slowdown triggered by trade tariffs.
The Monetary Policy Committee is expected to reduce the Bank Rate to 4.25 percent from 4.50 percent.
The BoE had maintained its interest rate at its March meeting after reducing it three times since last year. The bank is also slated to publish its outlook for both inflation and economy for the first time since the announcement of trade tariff by the US administration in April.
Other major economic reports due on Thursday are industrial production and foreign trade from Germany and house prices from the UK.
At 2.00 am ET, Destatis publishes Germany's industrial produ...