The Bank of England has cut its main interest rate by a quarter percentage point to 4%, as policy makers seek to bolster the sluggish U.K. economy.

The Bank of England cut interest rates from 4.25% to 4% on Thursday as the central bank resumes a "gradual and careful" approach to lowering interest rates.The BOE was widely expected to trim rates by 25 basis points at its latest monetary policy meeting,

The Bank of England cut interest rates on Thursday but four of its nine policymakers - worried about high inflation - sought to keep borrowing costs on hold, suggesting the BoE's run of rate cuts might be nearing an end.