Bank of England meeting —

At its 7 May 2025 meeting, the Bank of England held its policy rate at 4.50%. The decision passed 5-4.

Decision

hold — 4.50% to 4.50%

Vote: 5-4

Key passages

the MPC voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 4.25%.

Rate cut to 4.25%, smaller than some expected.

Two members preferred to reduce Bank Rate by 0.5 percentage points, to 4%. Two members preferred to maintain Bank Rate at 4.5%.

Split vote: 2 wanted 50bp cut, 2 wanted no cut, showing internal divergence.

Meeting documents

Background reading

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