Below-expected inflation paves the way for two interest rate cuts this year

September marks the first-time inflation has been below the Bank of England’s 2% target since April 2021. CPI inflation has fallen from 2.2% in August to 1.7% in September, below the Bank of England’s 2% target and below economists’ forecasts of 1.9%. After hitting the Bank of England’s 2.0% target in May and June, inflation rose to 2.2% in July …

Bank of England votes 8-1 to hold interest rates at 5%

Many economists predict that a further rate reduction will come at the Committee’s meeting in November. The Bank of England’s Monetary Policy Committee has voted 8-1 to hold Bank Rate at 5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 4.75%. The MPC reduced interest rates last month from 5.25%, the first cut since March 2020. …

Bank of England cuts interest rates to 5%

The Bank’s Monetary Policy Committee has reduced rates for the first time since 2020. The Bank of England’s Monetary Policy Committee has voted 5-4 to reduce Bank Rate to 5% – the first reduction since the early days of the Covid-19 pandemic in March 2020. Four members preferred to maintain Bank Rate at 5.25%. This month marks a full year …

Bank of England’s MPC holds interest rates in 7-2 vote

The Bank’s Monetary Policy Committee has held rates for a seventh consecutive time. The Bank of England’s Monetary Policy Committee has voted 7-2 to maintain Bank Rate at 5.25%, despite inflation falling to the Bank’s 2% target. Two members preferred to reduce Bank Rate by 0.25%, the same as the previous month. The Committee noted that CPI inflation is expected …

Bank of England votes 7-2 to hold interest rates at 5.25%

The Bank’s Monetary Policy Committee has held rates for a sixth consecutive time. The Bank of England’s Monetary Policy Committee has voted 7-2 to maintain Bank Rate at 5.25%, with two members preferring to reduce Bank Rate by 0.25%. One more member for a rate cut compared to March’s meeting, where the vote was 8-1. Interest rates have now been …

Bank of England votes 8-1 to hold interest rates at 5.25%

The Bank’s Monetary Policy Committee has held rates for a fifth consecutive time. The Bank of England’s Monetary Policy Committee has voted 8-1 to maintain Bank Rate at 5.25%. One member voted to reduce Bank Rate by 0.25 percentage points, to 5%. Interest rates have now been at 5.25% since August 2023, with many economists predicting that rates will begin …