Bank of England holds rates at 5.25% in 5-4 split vote

MPC members narrowly voted to raise interest rates by 25bps after inflation fell

Valeria Martinez
clock • 4 min read
The MPC voted 5-4 to maintain the 5.25% rate
Image:

The MPC voted 5-4 to maintain the 5.25% rate

The Bank of England (BoE) has paused its hiking cycle and opted to keep interest rates at the current level of 5.25% after inflation unexpectedly fell in August.

It was a tight split decision by the bank, with five members of the Monetary Policy Committee (MPC) voting to maintain the bank rate at 5.25%, while four members preferred to increase rates by 25bp...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

TPR publishes compliance and enforcement policy for CDC schemes

TPR publishes compliance and enforcement policy for CDC schemes

TPR will use risk notices if it has concerns a CDC scheme may breach authorisation criteria

Holly Roach
clock 13 November 2024 • 1 min read
Access LGPS pool hits £50bn in assets under management

Access LGPS pool hits £50bn in assets under management

Pool also revealed it is working on private equity and private debt mandates

Holly Roach
clock 12 November 2024 • 1 min read
Buzz: Are you happy with the FCA's final dashboard rules?

Buzz: Are you happy with the FCA's final dashboard rules?

FCA dashboard rules, national lifetime savings plan and US election

Professional Pensions
clock 12 November 2024 • 1 min read
Trustpilot