The Bank of England raised Bank Rate 25 basis points to 4.00% in an 8 to 1 vote, the dissent wanting more. Its forecast has CPI near 4.9% in 2027 Q2 on energy costs, and swaps price roughly a 50% chance of another hike in December.
The Bank of England's (BoE) Monetary Policy Committee (MPC) raised Bank Rate by 25 basis points to 4.00% on Thursday, its first increase since August 2023. The vote was 8 to 1, and the lone dissenter was a hawk: Catherine Mann wanted 50 basis points. That means all nine members voted to tighten. Consensus on the Investing.com calendar had been 7 votes to hike and 2 to hold, and a Reuters poll expected any dissent to favour leaving the rate at 3.75%. No dove turned up.
