Bank of England cuts interest rates by 0.25%

UNITED KINGDOM - The Bank of England cut interest rates by another quarter point on Apr 5, 2001, bowing to pressure from tumbling stock markets and weakening economic data.

The widely-anticipated move, announced after the Monetary Policy Committee's latest monthly meeting, sets the base British lending rate at 5.5 percent, only 75 basis points above euro zone rates - the smallest gap since the advent of the euro.

The MPC said in a statement it was worried by a worsening global economic outlook,