Bank of England holds rates in second split decision
UK faces two years of above-target inflation and near-zero growth, forecasts the BoE
The Bank of England (BoE) held its policy rate at 5.25% for the second consecutive meeting on November 2, as the UK contends with both a weak economy and stubborn inflation.
The monetary policy committee (MPC) divided 6–3, with the minority favouring a 25 basis point increase. At the previous MPC session in September, the MPC split 5–4, with the minority again favouring a 25bp increase.
The majority included governor Andrew Bailey and chief economist Huw Pill, as well as Sarah Breeden, Ben
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
Bank of Canada holds rates for sixth consecutive time
Central bank optimistic that rate cuts are ahead and inflation will gradually fall
RBNZ holds rates as economy enters recession
Policy-makers keep policy restrictive to tame inflation despite economic downturn
Philippine central bank holds rate
Central bank stays put after headline inflation rises for two consecutive months
Central Bank of Brazil cuts rate by 50bp
Copom says it expects to do the same at its next meeting in May
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
Caucasus central banks cut rates as inflation falls
Armenia, Azerbaijan and Georgia continue gradual easing, with Armenian inflation at -0.5%
Chile cuts rates for fourth consecutive meeting
Board forecasts inflation will return to 3% target in 2024
Colombian central bank begins cutting rates
Board splits over decision, as inflation remains above 10% while economy slows
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- ‘Do I die, or do I survive?’ Officials reflect on Basel III complexity