The Bank of England decided on Thursday to maintain its benchmark rate and continue with trimming its government debt holdings, as well as adopted a cautious approach despite the US Federal Reserve slashing the policy rate by a half percentage points a day earlier.
The BoE Monetary Policy Committee, headed by Governor Andrew Bailey, voted by a majority of 8-1 to hold the Bank Rate at 5.00 percent. The decision was in line with expectations as markets expected a cut only next month.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.