Bank of England halts interest rate cuts amid persistent inflation

As priced in by markets

The Bank of England’s (BoE) Monetary Policy Committee (MPC) opted to keep interest rates unchanged at 4.5% in its second meeting of the year.

Eight MPC members voted in favour holding the interest rate steady, while Swati Dhingra wanted to reduce the rate by another 0.25 percentage points. Last month, the MPC implemented a quarter point rate cut from 4.75% to 4.5%. Bank of England slashes interest rates by 25bps to lowest level in 18 months Today (20 March), the MPC said that since its previous meeting uncertainty surrounding global trade policy had intensified, with the US pushing with a series of trade tariffs on major trading partners.  "Other geopolitical uncertainties have also increased and indicators of financi...