1120 GMT - Sterling rises after the Bank of England delivered a widely-expected 25 basis points interest-rate cut but maintained its guidance for gradual policy easing. The BOE voted 5-4 to cut rates to 4.25%. Two members preferred to cut rates by 50bp while two favored leaving rates unchanged. The BOE reiterated that a "gradual and careful approach" to further rate cuts remains appropriate. Many analysts had expected an 8-1 vote for a 25bp cut with one backing a 50bp move. There was also speculation the BOE could drop its reference to gradual cuts. Sterling rises to $1.3325 after the decision from $1.3251 beforehand. The euro falls to 0.8479 pounds from 0.8514. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

May 08, 2025 07:20 ET (11:20 GMT)

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