Despite a small rise in November, we have become used to the Bank of England keeping interest rates on hold. At their latest Monetary Policy Committee (MPC) meeting in June 2018, rates were once again kept on hold at 0.5%. The MPC also voted to keep their asset purchase programme of quantitative easing at its current level. Looking a little deeper than the headline decision, the voting behaviour of MPC members suggests a movement towards a rate rise at their next meeting in August. Six of the nine member MPC voted to keep rates on hold this month, with the other three members voting for a rate rise.
Interest rates kept on hold in June 2018
This 903 word post explains the June 2018 Bank of England Monetary Policy Committee decision and looks ahead to what is forecast to happen next on rates, QE and the economy. Written on 22nd June 2018.