The Bank of England has cut its main interest rate by a quarter percentage point to 4%, as policy makers seek to bolster the sluggish U.K. economy.

The rate cut is the bank’s fifth since last August, when policymakers began to lower borrowing costs from a 16-year high.

The Bank of England cut interest rates by a quarter point to 4% Thursday, after a historic split among the Monetary Policy Committee required a second vote, indicative of the uncertainties plaguing a flagging UK economy.