The Bank of England is likely to take another step towards its first interest rate cut in four years on Thursday as inflation falls, but will probably be cautious about signalling that a move is imminent. The central bank is widely expected to keep its benchmark Bank Rate on hold for a sixth meeting in a row at 5.25% - the highest since 2008 - after its May monetary policy discussions. The big question for investors is whether the BoE suggests that a cut could come in June - when the European Central Bank has already signalled it will reduce borrowing costs - or, like the U.S. Federal Reserve, holds out for longer. ... (full story)