The week ending February 12 saw a surge in global equity funds, with a net worth of $5.66 billion being purchased by investors. This was a significant reversal from the previous week, which saw a net sale of $2.

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The central bank cut rates for the third time in about six months as it said economic growth had been weaker than expected.

The Bank of England is widely expected to cut interest rates for the third time in six months later Thursday even though inflation remains above its target.

Bank of England policymaker Catherine Mann said on Tuesday that her unexpected vote for a half percentage-point cut in interest rates last week did not mean she wanted a series of rate cuts or that she would vote the same way again in March.

Mann's first vote for a cut during this cycle marked a departure from her comments in August, when she warned Britain not to be 'seduced' into believing that the battle against inflation is over, citing wage growth and related concerns in the services sector.

Bank of England Chief Economist Huw Pill pushed back against colleagues voting for a large interest rate cut, arguing that they are “rushing” to change policy too quickly.