Divergence in MPC vote signals split between 'hawkish concerns' and 'dovish direction'

Debate over interest rates path

The lack of consensus among the Bank of England’s Monetary Policy Committee members indicates its continuously hawkish tone is shifting, experts have argued.

The BoE opted to hold rates at 5.25% today (1 February), marking the fourth consecutive hold from the central bank, a move which mirrored the US Federal Reserve, which also decided to hold rates steady. Bank of England holds at 5.25% and predicts higher rates into 2027 While the decision to hold was generally forecast, the divergence of opinion from MPC members was noted by commentators. In the first three-way split since 2008, Jonathan Haskel and Catherine Mann voted to increase rates to 5.5% and Swati Dhingra elected to cut rates to 5.25%, while the remaining six members, includi...