Last MPC vote a close call

clock

Members of the Monetary Policy Committee almost voted for an interest rate cut earlier this month, minutes of the meeting show.

Instead, the rate stayed at 4.75% by a 5-4 vote. Economists say the arguments put forward in favour of a cut point the way to just that when next the MPC meets in early August. Expecations are any cut will be in the order of 25 basis points, as voted for by the four members at the last meeting. The specific arguments in favour of a cut include persistent high levels of household debt, which risk prolonging any economic slowdown, and evidence that national GDP growth has slowed. Energy prices threaten to both push up inflation while creating slower global economic growth, the m...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Investment

Beyond London: Adviser opportunities in regional investment

Beyond London: Adviser opportunities in regional investment

Hugi Clarke unpacks the regional growth agenda

Isabel Baxter
clock 31 July 2026 • 1 min read
Looking beyond the oil shock

Looking beyond the oil shock

'A few weeks ago, there was genuine reason for optimism'

Fahad Hassan
clock 27 July 2026 • 4 min read
What does a new PM and chancellor mean for investments?

What does a new PM and chancellor mean for investments?

'What is important is what happens over the long term'

Jasper Thornton Boelman
clock 23 July 2026 • 4 min read