Bank of England meeting —
At its 4 May 2022 meeting, the Bank of England raised its policy rate from 0.50% to 1.00%. The decision passed 6-3.
Decision
hike — 0.50% to 1.00%
Vote: 6-3
Key passages
At its meeting ending on 4 May 2022, the MPC voted by a majority of 6-3 to increase Bank Rate by 0.25 percentage points, to 1%. Those members in the minority preferred to increase Bank Rate by 0.5 percentage points, to 1.25%.
The unemployment rate fell to 3.8% in the three months to February, and is likely to fall slightly further in coming months, consistent with a continuing tightening in the labour market.
Meeting documents
Background reading
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