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.

The Bank of England on Thursday halved its forecast for UK economic growth this year, blaming global risks amid US tariff threats and deteriorating business confidence in the UK.The sharp downgrade, which estimates gross domestic product at 0.

The central bank cut rates for the third time in about six months as it said economic growth had been weaker than expected.

The yen touched an eight-week high versus the dollar on Thursday after a Bank of Japan policy board member advocated continued interest rate hikes, while sterling slid as the Bank of England cut rates.

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 (BoE) is expected to cut interest rates on Thursday, marking its third reduction since the COVID-19 pandemic. With the economy struggling due to rising costs, tax hikes by Finance Minister