Bank of England Governor Andrew Bailey called for the world's financial powers, led by the United States and China, to avoid economic nationalism in a speech released three days before Donald Trump is due to be sworn in as U.

Alan Taylor, an external member of the Bank's Monetary Policy Committee (MPC), said a series of radical cuts could be on the agenda

The U.K. economy grew at a lackluster pace of 0.1% in November, data from the Office of National Statistics showed Thursday.

The Bank of England should move quickly to bring down interest rates given signs of a slowdown in Britain's economy, Alan Taylor, the BoE's most recently appointed interest rate setter, said on Wednesday.

The UK economy faces mounting uncertainty as discussions intensify around potential changes to monetary policy. Speculation is growing that the Bank of England may take decisive action in the months ahead to address evolving economic challenges.