BoE holds rates, as three MPC members call for cut
Dissenting policy-makers highlight labour market weakness and lower pay growth
The Bank of England’s monetary policy committee (MPC) has voted to hold the main interest rate at 4.25%, though three committee members voted to cut it by 25 basis points.
Following the decision today (June 19), policy-makers emphasised that the direction of travel for rates was still downwards. The MPC said a “gradual and careful approach” to monetary easing remained “appropriate” given the economic outlook. However, the committee also stressed policy was “not on a pre-set path”.
Six members
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