Michael Brown, senior research strategist at Pepperstone, stated that the Bank of England is expected to cut interest rates at the February meeting. The Bank of England maintained the interest rate at 4.75% on Thursday as expected, but three of the nine decision-makers voted to lower rates. A further slowdown in winter inflation is anticipated to lead to a rate cut in February, and additional cuts in the months following the release of the monetary policy report and new forecasts. The UK money market currently estimates that the likelihood of a rate cut by the Bank of England in February is only 34%.