The Bank of England cut interest rates by a quarter point to 4% Thursday, after a historic split among the Monetary Policy Committee required a second vote, indicative of the uncertainties plaguing a flagging UK economy.

The Bank of England cut interest rates to 4% from 4.25% on Thursday but four of its nine policymakers - worried about high inflation - sought to keep borrowing costs on hold.

The Bank of England cut its main interest rate Thursday by a quarter percentage point to 4%, as policy makers seek to bolster the sluggish U.K. economy. Thursday’s decision was widely anticipated in financial markets as the bank’s Monetary Policy Committee balances its responsibility to control inflation against concern that rising