Following the Fed's policy rate cut on March 4, commentators were confident that the next of the world'sfour major central banks to cut interest rates would be the bank of England. Given the information in the graph below (from the Financial Times on March 5), why do you think observers thought England would be next?

Central bank policy rates (%) - US Federal Funds target rate - Eurozone ECB deposit rate - UK BOE bank rate - Japan BoJ policy rate 2.5 2 1.5 1 0.5 0 -0.5 2015 2016 2017 2018 2019 2020