The Bank of England cut interest rates on Thursday as it halved its growth outlook for this year and said a jump in inflation will prove temporary. Here's what Bank of England officials said in a pres

The value of the pound has sunk sharply as the Bank of England signalled there would be more interest rate cuts later this year.

"We expect to be able to cut bank rate further as the disinflation process continues, but we will have to judge meeting by meeting, how far and how fast," Bailey told a news conference