Bank of England meeting —
At its 8 May 2024 meeting, the Bank of England held its policy rate at 5.25%. The decision passed 7-2.
Decision
hold — 5.25% to 5.25%
Vote: 7-2
Key passages
voted by a majority of 7–2 to maintain Bank Rate at 5.25%. Two members 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 in line with the MPC’s remit.
Meeting documents
Background reading
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