Deep Dive: Divergence of MPC votes proves BoE's avoidance of groupthink

Should be 'welcomed'

Eve Maddock-Jones
clock • 4 min read

Divergent opinions within the Bank of England's Monetary Policy Committee is one of the central bank's greatest strengths, fund managers have argued.

Responsible for making decisions about the Bank Rate, the nine-member MPC sets and announces policy eight times a year –roughly once every six weeks– alongside regular meetings to consult on how the economy is progressing. The last time the MPC reached a unanimous decision on rates was September 2021, opting to hold at 0.1%. Since the current hiking cycle began, no decision has been made without at least one dissenting vote. At the latest meeting, seven voted to hold rates at 5.25% –governor Andrew Bailey, Sarah Breeden, Ben Broadbent, Megan Greene, Jonathan Haskel, Catherine Mann and...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

Treasury confirms probe into OBR leak ahead of Spring Forecast
UK

Treasury confirms probe into OBR leak ahead of Spring Forecast

Treasury permanent secretary James Bowler

Beth Brearley
clock 13 February 2025 • 2 min read
UK economy beats expectations and grows 0.1% in final quarter of 2024
UK

UK economy beats expectations and grows 0.1% in final quarter of 2024

After zero growth in Q3

Sorin Dojan
clock 13 February 2025 • 3 min read
Buoyant January precedes pressure costs for retailers
UK

Buoyant January precedes pressure costs for retailers

Total retail sales up 2.6%

Beth Brearley
clock 11 February 2025 • 1 min read
Trustpilot