Bank of England meeting —
At its 1 August 2024 meeting, the Bank of England held its policy rate at 5.25%. The decision passed 5-4.
Decision
hold — 5.25% to 5.25%
Vote: 5-4
Key passages
At its meeting ending on 31 July 2024, the MPC voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 5%. Four members preferred to maintain Bank Rate at 5.25%.
Monetary policy will need to continue to remain restrictive for sufficiently long until the risks to inflation returning sustainably to the 2% target in the medium term have dissipated further.
Meeting documents
Background reading
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