The Bank of England kept interest rates at 4.75% during its meeting in December, in line with market expectations.
However, three policymakers preferred to cut interest rates by 25 basis points to 4.5% on the backdrop of slowing demand and a weak labor market.
Three members of the Bank of England's nine-member Monetary Policy Committee, voted in favor of cutting the interest rate by a quarter of a percentage point to 4.5%.
But Bank of England Governor Andrew Bailey said the central bank needed to stick to its current "gradual approach" to cutting interest rates.
Follow the latest news on Google News
