The Bank of England put a dovish twist to an expected rate cut, sending the British pound and bond yields lower. The central bank, as expected, cut interest rates by a quarter-point, its third reduction since August, to 4.5% from 4.75%.

The pound sterling fell sharply following the Bank of England’s decision to cut interest rates, a move aimed at supporting the struggling UK economy amid ongoing concerns over sluggish growth and rising inflation.

Most economists had already predicted the nine-member Monetary Policy Committee (MPC) would lower the bank's main interest rate. But, in a surprise move, two MPC members voted for a larger cut. View o