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UK Bank Rate reduced to 4.25% - May 2025
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 7 May 2025, the MPC voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 4.25%. Two members preferred to reduce Bank Rate by 0.5 percentage points, to 4%. Two members preferred to maintain Bank Rate at 4.5%. There has been substantial progress on disinflation over the past two ... (full story)
- BANK OF ENGLAND:AT ITS MEETING ENDING ON 7 MAY 2025, THE MPC VOTED BY A MAJORITY OF 5-4 TO REDUCE BANK RATE BY 0.25 PERCENTAGE POINTS, TO 4.25%
BOE: 5 MPC MEMBERS BACKED 25 BPS CUT, 2 VOTED FOR 50 BPS CUT, 2 WANTED TO KEEP RATES ON HOLD || BOE POLICYMAKERS DHINGRA AND TAYLOR VOTED TO CUT RATES BY 0.5 PERCENTAGE POINTS TO 4.0% || BOE POLICYMAKERS MANN AND PILL VOTED TO KEEP RATES ON HOLD AT 4.5%
BOE'S BAILEY: NEED TO STICK TO 'GRADUAL AND CAREFUL' APPROACH
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Bank of England cuts interest rates by a quarter point to 4.25%
Millions of home owners and businesses today celebrated lower mortgage and interest bills after the Bank of England cut interest rates by a quarter point to 4.25%. The Bank’s rate setting Monetary Policy Committee (MPC) voted 5-4 to reduce the cost of borrowing for the fourth time in less than a year after similar moves in August, November and February. Interest rates are now at their lowest level since May 2023. Two members of the MPC voted for a bigger 0.5% cut while another two preferred keeping the rate at 4.5%. Today’s move, which was in line with City forecasts, will mean an immediate cut in monthly ... (full story)
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