In a close call, the Bank of England kept its benchmark rate unchanged unexpectedly for the first time since November 2021 as inflation eased to an 18-month low, while the economy is moving closer to a mild recession.
The BoE Monetary Policy Committee, headed by Governor Andrew Bailey, voted by a narrow margin of 5-4 to maintain the bank rate at 5.25 percent. Markets had widely expected a quarter-point hike.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.