Good morning from the City AM liveblog team.

Bank of England Governor Andrew Bailey could have the deciding vote on whether to slash interest rates by 25 basis points later today.

The Bank is expected to keep interest rates on hold at four per cent but several analysts have said the decision is on a knife-edge, with four Monetary Policy Committee (MPC) members expected to vote each way.

This even split on the MPC would leave Bailey, who has offered mixed views on the path of interest rates, to decide whether borrowing costs should be lowered.

Analysis by several City firms has indicated that four members expected to vote for a cut include external members Swati Dhingra and Alan Taylor plus deputy governors Sarah Breeden and Dave Ramsden.

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Taylor or Dhingra could back a larger 50 basis point cut, which could force Bailey to call another vote for the second meeting in a row.

Taylor has suggested that keeping monetary policy too tight could be risky for the UK economy, stifling investment levels and damaging the jobs market.

The hawks Catherine Mann, Megan Greene, Clare Lombardelli and Huw Pill are expected to vote for interest rates to be held amid fears about higher inflation expectations and wage-setting trends keeping price growth elevated.

The last set of inflation data showed inflation remaining at 3.8 per cent, which was 0.2 percentage points below the Bank of England’s forecast yet nearly double its two per cent target rate.

We’ll bring you news of the rate decision as soon as we get it.

Here’s a summary of our top headlines from yesterday:

Tech stocks rally after Tuesday’s sell off
Full steam ahead for Trainline as it raises its end of year guidance
M&S reveals full cost of cyber attack
JD Wetherspoon ‘more cautious’ on outlook due to Budget uncertainty
Don’t penalise banks amid private credit jitters, Lloyds boss urges
City watchdog extends motor finance consultation after backlash

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