ME News, December 18 (UTC+8), December 18, the Bank of England announced a rate cut on Thursday, with the vote results from the Monetary Policy Committee members being quite close. The bank also hinted that the currently slow pace of rate cuts may slow further. Following the data released this week showing a significant decline in inflation, and after staff at the Bank of England predicted that economic growth would stagnate by the end of 2025, five members of the Monetary Policy Committee voted to lower the Bank of England's benchmark interest rate from 4.0% to 3.75%, marking the fourth rate cut since 2025. The other four members voted to keep the rate unchanged, expressing concerns that the inflation rate in the UK might still be too high. Bank of England Governor Bailey changed his stance and voted in favor of the rate cut, thereby reversing the committee's voting outcome. Bailey stated in a declaration: 'We still believe that interest rates will be gradually reduced. But after each rate cut, it becomes increasingly difficult to determine how much more we can lower.' (Jin Shi) (Source: ME)