Carney says BoE is ready to cut rates as MPC votes to hold

Mark Carney
Mark Carney
Photo: Simon Dawson/Bloomberg

The Bank of England’s monetary policy committee (MPC) kept its bank rate on hold at 0.75%, with governor Mark Carney saying the rate could rise or fall in the coming months.  

The MPC’s vote today (November 5) was the first split vote since June 2018, with two of its seven members backing a 25-basis point rate cut.

Carney said the key message was that the BoE would cut policy rates if downside risks materialised. He also said the BoE was downgrading its estimate for UK GDP growth contained in

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