The Bank of England's Monetary Policy Committee (MPC) meeting for August saw the central bank cut the Bank Rate by 25bps to 4.00%. This represented the third 25bps rate reduction from the BoE this year, having previously cut in February and May. It also maintained the practice of easing policy at meetings that coincide with the publication of cycle, which began in August last year, the BoE has cut by a total of 125bps.