The central bank cut rates for the third time in about six months as it said economic growth had been weaker than expected.

The Bank of England lowered interest rates by a quarter of a percentage point on Thursday, judging a sharp upward revision to its inflation forecasts for this year will prove temporary, while two officials called for a bigger rate cut against a backdrop of weaker growth.

The Bank of England is widely expected to cut interest rates for the third time in six months later Thursday even though inflation remains above its target.