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Dissenting policy-makers highlight labour market weakness and lower pay growth
The Bank of England
The Bank of England’s monetary policy committee (MPC) has voted to hold the main interest rate at 4.25%, though three committee members voted to cut it by 25 basis points.
Following the decision today (June 19), policy-makers emphasised that the direction of travel for rates was still downwards. The MPC said a “gradual and careful approach” to monetary easing remained “appropriate” given the economic outlook. However, the committee also stressed policy was “not on a pre-set path”.
Six members
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