LONDON (KAP) - The Bank of England is expected to brush aside short-term inflationary pressures in the British economy on Thursday and decide to cut interest rates in the wake of a possible shock to growth caused by the Trump administration's tariff policy.

Most economists believe that it is almost certain that the nine-member Monetary Policy Committee will give its approval to a quarter percentage point cut in the Bank's main interest rate to 4.25 %. The decision will be announced at 12:02pm, two minutes later than usual due to the two-minute silence for Victory Day in Europe. There is speculation that some members may opt for an even bigger cut of half a percentage point.

Economists will be particularly interested in the bank's accompanying economic forecasts, as they will be the first since US President Donald Trump's announcement of tariffs in early April. Although most tariffs were suspended for 90 days following the subsequent market turmoil, including the basic 10% duty applied to British goods entering the US, the backdrop to the global economy remains very uncertain.

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