The Bank of England’s (BoE) Monetary Policy Committee (MPC) opted to keep interest rates unchanged at 4.5% in its second meeting of the year.
Eight MPC members voted in favour holding the interest rate steady, while Swati Dhingra wanted to reduce the rate by another 0.25 percentage points. Last month, the MPC implemented a quarter point rate cut from 4.75% to 4.5%. Today (20 March), the MPC said that since its previous meeting uncertainty surrounding global trade policy had intensified, with the US pushing with a series of trade tariffs on major trading partners. "Other geopolitical uncertainties have also increased and indicators of financial market volatility have risen globally," the BoE said. "The German government ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
