BlockBeats News, December 18 — The Bank of England announced a rate cut on Thursday, with the voting results among Monetary Policy Committee members being quite close. The bank also hinted that the currently somewhat slow pace of rate cuts might further slow down. Data released this week showed a significant decline in inflation, and Bank of England staff forecast that economic growth will stagnate by the end of 2025. Five MPC members voted to lower the Bank of England’s benchmark interest rate from 4.0% to 3.75%, marking the fourth rate cut since 2025. The other four members voted to keep rates unchanged, concerned that UK inflation might still be too high. Bank of England Governor Bailey changed his stance and voted in favor of a rate cut, reversing the committee’s previous vote. Bailey stated in a statement: “We still believe that interest rates will be gradually lowered. But after each rate cut, it becomes increasingly difficult to determine how much more we can cut.” (Jin10)
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