Bank of England poised to slash interest rates 

The Bank of England is poised to cut interest rates next week.

The Bank of England is expected to cut interest rates by 25 basis points to their lowest level in nearly two years at a crunch decision next Thursday.

Markets and leading economists have priced in a cut to Bank Rate to 3.75 per cent amid fears activity in the UK economy is stalling and the labour market is softening.

Members on the nine-man Monetary Policy Committee are set to clash on whether to cut interest rates, with Governor Andrew Bailey now seen as the swing voter that could make the final judgment in the final meeting of the year.

A cut at the Bank would follow a call to bring interest rates in the US down to a range of 3.5 per cent to 3.75 per cent, which came despite dissenting votes from three members at the Fe