SHOTLIST LONDON, UK (DEC. 15, 2022) (AAVN - ACCESS ALL) (FILE FOOTAGE) 1. VARIOUS OF EXTERIOR OF ROYAL EXCHANGE BUILDING 2. PIGEON OUTSIDE BANK OF ENGLAND 3. PEOPLE WALKING ON SIDEWALK 4. EXTERIOR OF BANK OF ENGLAND LONDON, THE UK (OCTOBER 20, 2021) (AAVN – ACCESS ALL) (FILE FOOTAGE) 5. VARIOUS EXTERIOR SHOTS OF BANK OF ENGLAND 6. MAN AND GIRL AT ENTRANCE OF BANK LOOKING AT BOARD IN FRONT OF DOOR 7. VARIOUS OF PEOPLE PASSING BY THE BANK OF ENGLAND 8. VARIOUS OF METRO BANK ON THE CORNER, PEOPLE WALKING BY BANK LONDON, UNITED KINGDOM (JANUARY 18, 2023) (AAVN - ACCESS ALL) (FILE FOOTAGE) 9. PUBLIC BUS DRIVING ON ROAD IN CITY CENTER (FILE VIDEO) LONDON, UK (DEC. 15, 2022)-(OCTOBER 20, 2021)-(JANUARY 18, 2023) : The Bank of England (BoE) on Thursday, May 8, lowered its benchmark interest rate by 25 basis points to 4.25%, in line with market expectations. It marks the central bank’s fourth rate cut since last August and brings the policy rate to its lowest level since May 2023. In a statement, the bank said it expects inflation to rise temporarily to 3.7% this year, driven largely by energy prices, before returning to its 2% target. However, it warned of significant uncertainty stemming from global trade developments. “Changes in global trade tariffs mean the outlook for inflation is particularly uncertain at the moment,” the BoE said. It added that policy decisions and responses from businesses and consumers would determine how trade changes impact UK inflation. "On the one hand, increases in global trade tariffs could mean that inflation is lower than expected if it means some countries lower the prices of the goods they sell to the UK. On the other hand, inflation could also be higher than expected, for example, if companies have to change where and how they supply goods, and their costs go up in the process," it said. UK annual inflation slowed to 2.6% in March, down from 2.8% in February and slightly below expectations. The rate cut comes as Britain faces new trade challenges. On April 2, US President Donald Trump imposed a 10% tariff on UK exports. Trump is expected to announce a new trade deal later Thursday, and top adviser Peter Navarro told CNN this week that the UK may be first to sign an agreement with Washington.