Bank of England policymaker Catherine Mann said on Tuesday she voted for a half-point interest rate cut last week to "cut through the noise" about the right stance for policy, but said rates needed to remain restrictive.

The Bank of England has halved its 2025 growth forecast and cut interest rates by a quarter-point to 4.5%. In a blow to UK chancellor Rachel Reeves, the BoE said it now expected the economy to grow by 0.75 per cent this year, half its November forecast of 1.5 per cent.

The Bank of England halved its growth projection for the British economy this year as it cut its main interest rate Thursday for the third time in six months. In a statement, the bank's nine-member Monetary Policy Committee lowered its main interest rate by a quarter of a percentage point to 4.