UK MPC Official Bank Rate Votes

The Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. The MPC adopts a medium-term and forward-looking approach to determine the monetary stance required to achieve the inflation target sustainably. At its meeting ending on 19 March 2025, the MPC voted by a majority of 8–1 to maintain Bank Rate at 4.5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 4.25%. As the Committee noted in February, there has been substantial progress on disinflation over the past two years, as previous external shocks have receded, and as the restrictive stance of monetary policy has curbed second-round effects and stabilised longer-term inflation expectations. That progress has allowed the MPC to withdraw gradually some degree of policy restraint, while mai post: Breaking The Bank of England has as expected held interest rates at 4.5% The Monetary Policy Committee voted by a majority of 8-1 to hold the rate It highlights the instability caused by Donald Trump's tariffs and the fact that wages and prices are 'somewhat elevated'Bank of England holds interest rates at 4.5% The Bank of England (BoE) has kept interest rates unchanged at 4.5% amid mixed signals from the UK economy and a looming trade war. The decision marks a setback for mortgage holders, as the BoE had been gradually reducing borrowing costs since August of last year. The UK economy remains in a state of “wait-and-see mode” as it anticipates the upcoming budget from chancellor Rachel Reeves and contends with the growing risks from US trade policies, particularly the potential for a trade war due to the impact of US president Donald Trump's tariffs. In its February meeting, the Bank of England had already signalled a cautious approach, reducing its growth forecast for 2025 and predicting a temporary rise in inflation to 3.7%, driven largely by surging energy prices. This inflationary pressure remains well above the Bank’s target of 2%, reinforcing its stance on maintaining higher rates.

post: BOE GOV. BAILEY: DON’T PUT TOO MUCH WEIGHT ON MPC MEMBER VOTES. post: BOE GOV. BAILEY: THE MPC VOTE SPLIT IS NOT A COMMUNICATION TOOL.

post: BoE’s Gov Bailey: Wouldn’t Over-Interpret Moves In Voting Patterns - We Think Path For Disinflation Remains In Place post: BOE GOV. BAILEY, WHEN ASKED IF THE BOE IS HAPPY TO CUT RATES AS INFLATION RISES: I EXPECT PATH FOR RATES WILL BE DOWNWARD, BUT THERE IS MORE UNCERTAINTY. post: BOE GOV. BAILEY: THE CUT TO GDP GROWTH FORECAST FOR 2025 IS NOT ABOUT THE BUDGET REALLY.

post: BOE GOV. BAILEY: WE EXPECT TO BE ABLE TO CUT THE BANK RATE FURTHER post: BANK OF ENGLAND GOVERNOR BAILEY: WE EXPECT TO BE ABLE TO CUT BANK RATE FURTHER BUT WE WILL HAVE TO JUDGE MEETING BY MEETING HOW FAR AND HOW FAST ROAD AHEAD WILL HAVE BUMPS BEHIND UPTICK IN HEADLINE INFLATION STANDS A CONTINUED, GRADUAL EASING OF UNDERLYING INFLATIONARY… post: BoE Gov Bailey: Contact Of Weakening Economic Activity - Coming Rise In Inflation Almost Entirely Due To Factors Not Directly Linked To Pressures In The UK Economy - We Expect These Factors To Be Temporary post: BOE'S BAILEY: IT'S IMPORTANT TO A TAKE GRADUAL APPROACH TO EASING post: *BOE'S BAILEY: RISKS TO INFLATION ON BOTH SIDES *BOE'S BAILEY: SHOULD SEE 'GRADUAL' AND 'CAREFUL' TOGETHER *BAILEY: BOE MUST PROCEED CAREFULLY, JUDGE AFRESH EACH MEETING