The Bank of England's interest rate guidance has removed the word "cautious" to pave the way for a rate cut in December.

The Bank of England kept interest rates at 4%, but the voting ratio showed a large divergence of opinion, paving the way for a rate cut in December. Five members of the Monetary Policy Committee voted to maintain the policy unchanged, with Governor Andrew Bailey playing a key role, while four members advocated a 25 basis point rate cut to 3.75%. The Bank of England stated that the 3.8% inflation rate in September "may be a peak". The minutes of the meeting showed that Bailey was the most dovish among the members who supported keeping rates unchanged, leaning towards a rate cut, believing that inflation risks "recently have become more balanced". In a written statement, Bailey said, "We still believe that rates will gradually decrease, but before cutting rates again, we need to confirm that inflation is falling towards the target of 2%." The Bank revised its wording in the guidance, changing the language related to interest rates to "may continue along a gradual downward path", removing the word "cautious".