The first policy setting meeting of the year of the Bank of England’s Monetary Policy Committee (MPC), saw the central bank leave the Bank Rate unchanged today, at 3.75%. This outcome was very much in line with market expectations.
The most recent rate cut from the BoE occurred at its previous meeting in December, when it lowered the Bank Rate by 25bps. This represented the fourth 25bps rate cut from the BoE last year. So far in its current easing cycle, which began in August 2024, the BoE has lowered rates by 150bps in total.