Henry Cook of Mitsubishi UFJ Financial Group stated that the Bank of England is expected to cut interest rates by 25 basis points to 4.75% on November 7. However, following the increased public investment commitment in Wednesday's budget, it seems unlikely that there will be further rate cuts in December. Some members of the Bank of England's Monetary Policy Committee may be concerned that additional government spending could push up inflation. Market expectations indicate that the Bank of England is likely to cut rates by a total of 30 basis points by the end of December.