Monetary Policy

BoE cuts interest rates to 4.25%

The Bank of England (BoE) has cut interest rates to 4.25%, down from the previous rate of 4.5%, marking the fourth rate cut since last year’s peak of 5.25%.  At its meeting ending on 7 May, the bank’s monetary policy committee (MPC) voted by a majority of 5–4 to reduce…

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BoE holds interest rates at 4.5%

The Bank of England (BoE) has voted to hold interest rates at 4.5%, having cut the rate last month to its lowest level since June 2023. At its meeting ending on 19 March, the bank’s monetary policy committee (MPC) voted by a majority of 8–1 to maintain the rate at…

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BoE cuts interest rates to 4.5%

The Bank of England (BoE) has voted to cut interest rates from 4.75% to 4.5%, the lowest level since June 2023, but warned that GDP growth has been “weaker than expected”. At its meeting this week, the bank’s monetary policy committee voted by a majority of 7–2 to reduce the…

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UKH disappointed in BoE decision to hold interest rates

UKHospitality has expressed disappointment in the Bank of England’s decision to hold interest rates at 4.75%, which came after a recent hike in both inflation and wage growth.  At its meeting this week, the bank’s monetary policy committee voted by a majority of 6–3 to maintain the current rate. Three…

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BoE holds interest rates at 4.75%

The Bank of England (BoE) has voted to hold interest rates at 4.75%, following a recent hike in both inflation and wage growth.  At its meeting this week, the bank’s monetary policy committee voted by a majority of 6–3 to maintain the current rate. Three members voted to reduce interest…

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BoE holds interest rates at 5%

The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August.   The bank voted by a majority of 8-1 to keep the rate the same in a bid to help “sustain growth and employment”.…

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Restaurants and hotels help keep inflation steady at 2.2% in August

The rate of inflation remained steady at 2.2% in August, unchanged since July, yet is still above the Bank of England’s target of 2%.It follows downward contributions from hotels and restaurants, with costs in the segment falling to 4.4% in the month, down from 4.9% in the year to July,…

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BoE cuts interest rates for first time in 4 years

The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%.  The bank voted by a majority of 5–4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…

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BoE holds interest rates for 7th consecutive month

Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced.  The bank’s MPC voted by a majority of 7–2 to maintain the rate, despite inflation hitting its target and falling to 2% in May.  UK inflation hit its target for the first…

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Bank of England keeps interest rates unchanged at 5.25%

Following 14 straight rate rises, the Bank of England (BoE) has kept interest rates unchanged at 5.25%. At its latest meeting, the Monetary Policy Committee (MPC) voted by a slim majority of 5–4 to maintain the current rate, though four members preferred to increase the rate to 5.5%.  The MPC…

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