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Bank boss Andrew Bailey told the BBC it expected to cut rates further but warned the road ahead would be bumpy.

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will add nothing to gross domestic product growth in its forecast horizon. The Bank's governor, Andrew Bailey, said: "It will be welcome news that we have been able to cut interest rates again today.

The Bank says the UK economy will grow by 0.75% in 2025, down from a previous forecast of 1.5%, while inflation is expected to rise.