Bank of England Holds Rates at 3.75% as Bailey Plays Down 0.25-Point Hike Risk
Updated
Updated · Bloomberg · Jul 30
Bank of England Holds Rates at 3.75% as Bailey Plays Down 0.25-Point Hike Risk
3 articles · Updated · Bloomberg · Jul 30
Summary
Three policymakers backed a quarter-point increase, but the Bank of England still left rates unchanged at 3.75%, with Governor Andrew Bailey saying the committee is not moving closer to a hike.
Six members, including Bailey, argued price pressures have softened more than expected, undercutting the case for tighter policy despite the split vote.
Catherine Mann joined Megan Greene and Chief Economist Huw Pill in voting for higher rates, leaving the Monetary Policy Committee divided 6-3.
The stance marks a softer signal than a day earlier, when the bank had warned it could raise rates if the US-Iran war drove another inflation surge.