Bank of England meeting —
At its 18 September 2024 meeting, the Bank of England lowered its policy rate from 5.25% to 5.00%. The decision passed 8-1.
Decision
cut — 5.25% to 5.00%
Vote: 8-1
Key passages
The Monetary Policy Committee (MPC) voted by a majority of 8–1 to maintain Bank Rate at 5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 4.75%.
In the absence of material developments, a gradual approach to removing policy restraint remains appropriate. 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
Previous meeting · Next meeting · Open the full decision workspace
The Cadence Brief
The one number that moved central bank pricing — delivered each weekday morning.