The Bank of England reduced its benchmark interest rate in a close call on Thursday suggesting that the monetary easing cycle is nearing an end as policymakers became more concerned about persistent inflation.
The Monetary Policy Committee, headed by BoE Governor Andrew Bailey, voted 5-4 to cut the bank rate by 25 basis points to 4.00 percent.
Markets anticipated a quarter-point reduction today. The fifth cut since last August took the rate to the lowest since early 2023.
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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.