The Bank of England decided to leave its benchmark rate unchanged on Thursday as majority of policymakers called for a gradual approach to the withdrawal of policy restrictiveness amid acceleration in inflation and wage growth, while the divide in the rate-setting body widened.
The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to hold the bank rate at 4.75 percent in the final policy session for the year. "A gradual approach to removing monetary policy restraint remained appropriate," the BoE said.
For comments and feedback contact: editorial@rttnews.com
Business News
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.