Governor Andrew Bailey says the BOE will take a “gradual and careful” approach to cutting rates Join the Markets Today team -- Sam Unsted, Morwenna Coniam, Nick Bartlett and Dave Goodman -- for news and analysis vital to UK markets. Email us at [email protected]

(Reuters) -Strong results from AstraZeneca helped London's blue-chip index notch a record close on Thursday, while a dovish majority behind the Bank of England's move to deliver a 25-basis-point interest rate cut fuelled bets of more to come.

The FTSE 100 and FTSE 250 surged higher today after the Bank of England moved to cut interest rates to 4.5 per cent in a bid to breathe life into Britain’s ailing economy. All of the Bank’s nine-strong monetary policy committee voted in favour of a reduction in rates, with two members of the group voting for a faster half-percentage point cut.

The FTSE 100 was trading at a record high on Thursday afternoon as investors cheered a 'dovish' Bank of England base rate cut, despite forecasts of a worsening economic outlook.

London's blue-chip index jumped to a record high on Thursday, lifted by shares of AstraZeneca after upbeat results and ahead of an anticipated rate cut from the Bank of England later in the day.AstraZeneca was one of the top gainers on the FTSE 100,

AstraZeneca's strong results boosted the FTSE 100 to a record close, aided by the Bank of England's rate cut. The BoE's decision, fueled by dovish sentiments, also saw expectations for further cuts rise.

British stocks were set to fall for the third straight session on Wednesday, as a stronger pound put pressure on the export-heavy index, while caution prevailed ahead of the Bank of England's rate decision.