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

What does 2026 hold for investment?

What does 2026 hold for investment?

‘The disruptors of yesterday are now the establishment’

Jen Frost
clock 17 December 2025 • 3 min read
FCA launches trio of crypto consultations as UK interest nears tipping point

FCA launches trio of crypto consultations as UK interest nears tipping point

Consumer protection and innovation

Patrick Brusnahan
clock 16 December 2025 • 2 min read
Cryptoasset legislation in UK to come into force in 2027

Cryptoasset legislation in UK to come into force in 2027

Consumer protection

Cristian Angeloni
clock 15 December 2025 • 1 min read