UK MPC Official Bank Rate Votes
The BOE's MPC meeting minutes contain the interest rate vote for each MPC member during the most recent meeting. The breakdown of votes provides insight into which members are changing their stance on interest rates and how close the committee is to enacting a rate change in the future;
The vote is reported in an 'X-X-X' format - the first number is how many MPC members voted to increase interest rates, the second number is how many voted to decrease rates, and the third is how many voted to hold rates;
- History
Expected Impact / Date | Actual | Forecast | Previous |
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Sep 19, 2024 | 0-1-8 | 0-2-7 | 0-5-4 |
Aug 1, 2024 | 0-5-4 | 0-6-3 | 0-2-7 |
Jun 20, 2024 | 0-2-7 | 0-2-7 | 0-2-7 |
May 9, 2024 | 0-2-7 | 0-0-9 | 0-1-8 |
Mar 21, 2024 | 0-1-8 | 0-1-8 | 2-1-6 |
Feb 1, 2024 | 2-1-6 | 2-0-7 | 3-0-6 |
Dec 14, 2023 | 3-0-6 | 2-0-7 | 3-0-6 |
Nov 2, 2023 | 3-0-6 | 2-0-7 | 4-0-5 |
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- UK MPC Official Bank Rate Votes News
The Bank of England’s Monetary Policy Committee (MPC) is expected to reduce the Bank Rate by 25 basis points to 4.75 percent on November 7, 2024, in light of easing inflationary pressures. Recent data shows UK inflation has dropped from 2.2 percent in August to 1.7 percent in September, prompting a shift from a restrictive monetary policy to one that supports economic growth. The real economy is currently facing mixed signals. Core inflation fell from 3.6 percent in August to 3.2 percent in September year-over-year, and from 0.4 ...
Last week’s budget, the first under Labour Chancellor Rachel Reeves, promised big tax hikes and even bigger spending increases. Borrowing will be materially higher over the next couple of years, and that revelation caught bond markets off-guard. Above all, investors latched onto new Office for Budget Responsibility forecasts which showed GDP and inflation higher in 2025 as a direct result of government policy. Financial markets are now pricing a shallower easing cycle from the Bank of England. BoE officials certainly can’t ignore the ...
video The US dollar flexed its muscles lately on the back of upbeat data suggesting that there is no need for the Fed to deliver another bold 50bps rate cut at the remaining gatherings of the year, but also due to increasing market bets that Donald Trump will return to the White House. The day when US citizens will decide whether this will be the case or not has come. While some Americans have already casted their vote, the official election day is on Tuesday, with candidates Donald Trump and Kamala Harris battling neck and neck ...
The BoE didn’t shake things up today, choosing to keep its policy rate unchanged at 5.00% and its pace of balance sheet reduction steady at £100bn per annum; this was as we and the vast majority of economists predicted (even after the Fed’s big cut). There were no significant changes to the bank’s decision statement that stuck to a limited forward guidance approach, and the read of economic conditions is by and large a bland update of recent developments. We see the BoE cutting 25bps at each of its November and December meetings, ...
post: BOE GOV. BAILEY: RATES ARE ON A GRADUAL PATH DOWN, MORE EVIDENCE IS NEEDED. post: BOE GOV. BAILEY: SERVICES INFLATION IN THE UK IS STILL ELEVATED.
The Bank of England held interest rates at 5.0% on Thursday and voted to run down its stock of British government bonds by another 100 billion pounds over the coming 12 months, weighing on the government's finances. The Monetary Policy Committee voted 8-1 to keep rates on hold, with only external member Swati Dhingra voting for a further quarter-point rate cut after the BoE last month delivered its first reduction to borrowing costs since 2020. Economists polled by Reuters had forecast a 7-2 vote to keep rates on hold after last ...
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 18 September 2024, the MPC voted by a majority of 8–1 to maintain Bank Rate at 5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 4.75%. The Committee voted unanimously to reduce the stock of UK ...
The Bank of England (BoE) is expected to hold interest rates steady at its September meeting, after cutting rates in August for the first time since 2020. Despite that rate cut, the BoE has continued to take a cautious approach, as emphasized by Governor Andrew Bailey at the Jackson Hole symposium. The upcoming meeting is likely to maintain this careful stance on easing policy. Key Expectations: • Rates on Hold: The BoE is likely to keep the base rate at 5%, signaling that it remains unconvinced inflation has been fully tamed. While ...
Upcoming release on Nov 7, 2024 |
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Released on Sep 19, 2024 |
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