The Bank of England cut interest rates on Thursday to tackle the expected hit from U.S. President Donald Trump's tariffs but a surprise three-way split among policymakers cooled expectations that it might speed up future moves.

The Bank of England is cutting its main interest rate by a quarter of a percentage point to 4.25% amid concerns over the potential shock to global growth emanating from the tariff policies of the Trump administration.

The Bank of England is under fire for not going far enough in its cut to interest rates due to the "economy being on its knees", analysts have claimed. Earlier this week, the central bank slashed the base rate by 0.