The Latest Breaking News from MPC

While the UK is far from overheating, the MPC still sees inflationary dynamics within the economy

The next reduction in the cost of borrowing is now expected in November

City Voices: The MPC should be more worried about inflation falling below target

Mortgage payers and business owners vainly hope cut to 5% signals return to pre-pandemic era of cheap borrowing

The inflation spike caused by external factors including the Ukraine war might be over, but the importance of interest rates to the UK economy isn’t going away. Continuing global instability and the newly elected Labour government’s commitment to growing the economy mean the Bank of England will have to stay…

Incremental cuts likely over two to three years with rates expected to stay well above pre-Covid levels of 0.75%

City Voices: The MPC needs to be much bolder

Committee votes by five votes to four in favour of cut as governor says inflationary pressures have eased enough

The benchmark lending rate comes down from 5.25% to 5% bringing relief to millions of borrowers