The Bank of England maintained its interest rate in a close decision on Thursday and signaled rate cut as inflation is expected to fall back in the near term.
The Monetary Policy Committee, governed by Andrew Bailey, voted 5-4 to hold the bank rate at 3.75 percent, which was the lowest since early 2023.
The restrictiveness of policy has fallen as Bank Rate has been reduced by 150 basis points since August 2024, the bank said in a statement.
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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.