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Most economists think the nine-member Monetary Policy Committee will lower the bank's main interest rate by a quarter of a percentage point to 4.50%, taking it to its lowest level since mid-2023.
Interest rates are widely expected to be cut today, with most experts predicting a drop from 5 per cent to 4.75 per cent. The Bank of England decision will announced at midday UK time.
Interest rates are expected to be cut by the Bank of England later, in a move closely watched by households and economists. Analysts predict the benchmark rate will be cut from 4.75% to 4.5%, as ...
The decision comes a day after the US Federal Reserve voted for a shock 0.5 per cent cut to US interest rates, marking the first drop in four years. ... interest-rate decision due to be announced ...
Announced on 6 May 1997, only five days after that year's General Election, and officially given operational responsibility for setting interest rates in the Bank of England Act 1998, the committee was designed to be independent of political interference and thus to add credibility to interest rate decisions.
However, interest rates were significantly above this for much of the 1980s and 1990s, and up to the 2008 financial crisis, after hitting 17% in November 1979. Inflation is also now far below the ...
Results of the July 2024 general election to the House of Commons of the United Kingdom [4] [5] Affiliate Leader Candidates MPs Aggregate votes Total Gained [c] Lost [c] Net Of total (%) Total Of total (%) Change (%) Labour: Keir Starmer: 631 411 218 7 211 63.2 9,708,716 33.70 1.6 Conservative: Rishi Sunak: 635 121 1 252 251 18.6 6,828,925 23. ...
The notional results of the 2019 election, if they had taken place under boundaries recommended by the Sixth Periodic Review. The election was contested under new constituency boundaries established by the 2023 review of Westminster constituencies. Consequently, media outlets reported seat gains and losses as compared to notional results.