Bank of England meeting —
At its 2 August 2023 meeting, the Bank of England raised its policy rate from 4.25% to 5.00%. The decision passed 6-3.
Decision
hike — 4.25% to 5.00%
Vote: 6-3
Key passages
At its meeting ending on 2 August 2023, the MPC voted by a majority of 6–3 to increase Bank Rate by 0.25 percentage points, to 5.25%. Two members preferred to increase Bank Rate by 0.5 percentage points, to 5.5%, and one member preferred to maintain Bank Rate at 5%.
The labour market remains tight but there are some indications that it is loosening.
Meeting documents
Background reading
Previous meeting · Next meeting · Open the full decision workspace
The Cadence Brief
The one number that moved central bank pricing — delivered each weekday morning.