Bank of England Decision: Rates to Stay Flat, but One Voice Wants to Cut
Rate Decision
The Bank of England decided to keep the Bank Rate at 5.25%, but the splinter voice of one MPC member suggests a cut could be on the horizon.
The Voting Breakdown
- Andrew Bailey, Sarah Breeden, Ben Broadbent, Megan Greene, Huw Pill, and Dave Ramsden all pushed for the status‑quo—a firm “yes” to holding the rate.
- Catherine L. Mann and Jonathan Haskel were the “no” councillors, nudging the policy rate up to 5.5%.
- Swati Dhingra, by the way, was the lone “go ahead to cut” advocating a 5.0% stance.
Inflation Forecast
The BoE still eyes inflation creeping back to the 2% target by the second quarter, though some economic chatter hints at a very subtle dip.
- Expectations: 2.3% in two years, 1.9% by year three.
Economist Takeaway
JP Morgan’s Allan Monks says: “We’re seeing solid strides on inflation, but it’s premature to crow about victory. A balanced, cautious approach remains key when contemplating normalisation timelines.”
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