9 May 2024
The Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to maintain the Bank Rate at 5.25%. Two members preferred to reduce the bank rate by 0.25% to 5%. Twelve-month CPI inflation fell to 3.2% in March from 3.4% in February. Monetary Policy will remain restrictive for sufficiently long enough to allow inflation to return to the 2% target.