Two of the nine-member panel voted for an even bigger cut
Inflation eased to 2.5% in December, down from 2.6% the previous month
As many as three members voted for a 25 bps cut to the rate, now at 4.75%
Bank of England expected to keep key interest rate steady at 4.75% when it meets on Thursday
Expectations for further rate cuts this year disappear in face of higher energy bills
Latest cut comes after inflation fell to an annual rate of 1.7% — U.K.'s lowest level since April 2021
Seeing no signs of recession, bank’s rate-setting council lowers benchmark rate from 3.5% to 3.25% — its third reduction since June
Consumer prices rose 1.7% in September, down from 2.2% the previous month, cementing expectations for another rate cut
Inflation in the U.K. held steady at an annual rate of 2.2% in August, still above the bank’s goal
Higher air fares offset by lower fuel costs and restaurant and hotel bills