The Bank of England is widely expected to cut UK interest rates for the first time since March 2009 on Thursday. It is anticipated that Mark Carney, the Bank governor, will announce a reduction from 0.5% to 0.25% at noon. Last month the Monetary Policy Committee (MPC) voted to hold interest rates, despite economists predicting a cut. While a reduction is not certain, there is increasing pressure on the Bank to act after recent poor economic data. With a sharp fall in the services sector, factory activity down and the construction industry also slowing, economists argue now is the time for action. "Economic data since ... (full story)