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The Bank of England Suggests a More Cautious Approach to Further Interest Rate Cuts
BlockBeats News, December 18th, the Bank of England announced a rate cut on Thursday, with the Monetary Policy Committee members' voting results being quite close. The bank also hinted that the current, already slow rate-cutting pace may further slow down.
Data released this week showed a significant drop in inflation, and after Bank of England staff predicted that economic growth would stagnate by the end of 2025, five Monetary Policy Committee members voted to lower the Bank of England's base rate from 4.0% to 3.75%, marking the fourth rate cut since 2025. The other four members voted to keep the rate unchanged, expressing concerns that the UK's inflation rate might still be too high.
Bank of England Governor Bailey changed his stance and voted in favor of a rate cut, reversing the committee's voting outcome. Bailey stated in a statement: "We still believe that rates will be gradually reduced. However, it has become increasingly difficult to determine how much further we can cut after each rate cut." (FXStreet)
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