Bank of England meeting —
At its 10 May 2023 meeting, the Bank of England raised its policy rate from 3.50% to 4.25%. The decision passed 7-2.
Decision
hike — 3.50% to 4.25%
Vote: 7-2
Key passages
At its meeting ending on 10 May 2023, the MPC voted by a majority of 7–2 to increase Bank Rate by 0.25 percentage points, to 4.5%. Two members preferred to maintain Bank Rate at 4.25%.
The Committee now judges that the path of demand is likely to be materially stronger than expected in the February Report, albeit still subdued by historical standards.
Meeting documents
Background reading
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