Bank of England meeting —
At its 1 February 2024 meeting, the Bank of England held its policy rate at 5.25%. The decision passed 6-3.
Decision
hold — 5.25% to 5.25%
Vote: 6-3
Key passages
the MPC voted by a majority of 6–3 to maintain Bank Rate at 5.25%. Two members preferred to increase Bank Rate by 0.25 percentage points, to 5.5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 5%.
monetary policy will need to remain restrictive for sufficiently long to return inflation to the 2% target sustainably in the medium term
Meeting documents
Background reading
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