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World

Andrew Bailey paves the way for a summer interest rate cut

9 May 2024

11:18 PM

9 May 2024

11:18 PM

The Bank of England’s Monetary Policy Committee has voted to hold interest rates for the sixth time in a row. Members of the MPC voted 7 – 2 to maintain the base rate at 5.25 per cent – with two members voting to cut rates by 0.25 percentage points. This decision will come as no surprise to the markets, which had already factored in a rate hold.

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