Bank of England policymakers decided to maintain the record low interest rate and quantitative easing in a split vote and signaled a rate hike over the coming months as inflation remains stubbornly above the target.
Seven members of the Monetary Policy Committee voted to leave the key interest rate unchanged at 0.10 percent, while Dave Ramsden and Michael Saunders sought a 15 basis point rate hike, the bank said in a statement on Thursday.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.