The February meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank keep its key interest rate unchanged at 5.25%. This decision was very much in line with market expectations. It marked the fourth consecutive meeting where the BoE has remained on hold. This was preceded by fourteen consecutive meetings at which rates were hiked, dating back to December 2021. The most recent rate increase was in August of last year. Overall rates were increased by a total of 515bps over this period.