Bank of England holds rates in second split decision
UK faces two years of above-target inflation and near-zero growth, forecasts the BoE
The Bank of England (BoE) held its policy rate at 5.25% for the second consecutive meeting on November 2, as the UK contends with both a weak economy and stubborn inflation.
The monetary policy committee (MPC) divided 6–3, with the minority favouring a 25 basis point increase. At the previous MPC session in September, the MPC split 5–4, with the minority again favouring a 25bp increase.
The majority included governor Andrew Bailey and chief economist Huw Pill, as well as Sarah Breeden, Ben
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