The Bank of England decided to hold its key interest rate and to reduce the stock of government bond purchases by GBP 70 billion over the coming twelve months.
The Monetary Policy Committee, governed by Andrew Bailey, voted 7-2 to leave the bank rate unchanged at 4.00 percent.
The bank had lowered the rate five times since August 2024 and took it to the lowest since early 2023.
Swati Dhingra and Alan Taylor sought a quarter-point reduction in the rate citing that the disinflation process was continuing.
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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.