Bank of England meeting —
At its 5 February 2025 meeting, the Bank of England lowered its policy rate from 5.00% to 4.50%. The decision passed 7-2. unknown dissented, preferring a cut.
Decision
cut — 5.00% to 4.50%
Vote: 7-2
Dissenters
- unknown — preferred cut
Key passages
At its meeting ending on 5 February 2025, the MPC voted by a majority of 7–2 to reduce Bank Rate by 0.25 percentage points, to 4.5%. Two members preferred to reduce Bank Rate by 0.5 percentage points, to 4.25%.
That progress has allowed the MPC to withdraw gradually some degree of policy restraint, while maintaining Bank Rate in restrictive territory so as to continue to squeeze out persistent inflationary pressures.
Meeting documents
Background reading
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