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🇬🇧 Pill votes to hike at the April MPC, and the case for further UK rate cuts is looking thin
The day in view

🇬🇧 Pill votes to hike at the April MPC, and the case for further UK rate cuts is looking thin

Macro Soup Newsroom Macro Soup Newsroom 3 min read

The Bank of England held at 3.75% on an 8-1 vote, with Chief Economist Huw Pill dissenting for a hike as UK CPI re-accelerated to 3.3% in March 2026, pushing private-sector real wages back into negative territory.

Woman with brown wavy hair in a pink sweater seated and speaking into a black microphone.
Bank of England MPC member Megan Greene warned that inflation risks remain entirely on the upside amid energy shocks. Source

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