London, Feb. 8 (Bloomberg) -- The Bank of England is likely to cut its key lendingrate by a quarter point today, the first reduction in 20 months, as evidence mountsthat growth is slowing in Europe's second-biggest economy. Twenty-five of 28 economists surveyed by Bloomberg News predicted a 25 basis-point cut in the securities repurchase rate, the lowest amount the central bankcharges on loans to commercial banks. Policy-makers have held the rate at 6percent for a year. Industrial production declined in December, while confidence among manufacturerseased in the fourth quarter, reports Tuesday showed. Meanwhile, growth is slowingelsewhere, particularly the U.S. A slowing global economy could end an expansionin the U.K. that's continued for almost a decade now. ``A rate cut would help confidence,'' said Luke Borwick, the managing director ofKenrick & Jefferson Envelopes, a stationery company. ``A quarter percentage pointwould help. A half would be better.'' Interest-rate futures contracts show investors see rates falling by the end of thisquarter and then again by the end of the next. The yield fell 1 basis point on Marchcontracts to 5.60 percent. It also fell a basis point on June contracts, to 5.36percent. That's about 20 and 45 basis points below current three- month rates.