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

He said he was “very undecided” on his vote, ultimately to cut by 25 basis points, owing to the difficulty in assessing the health of the underlying UK economy. He added that the key thing for him is pay,

The committee held its guidance that easing should continue to be “gradual and careful” in light of volatility in the global economy caused by Trump’s sweeping tariffs.