Bailey Holds Key to Bank of England Decision as MPC Expected to Hold

The Bank of England is expected to skip its three-month cutting cycle for the first time since it started easing rates in August last year, in a close decision that will rest with Governor Andrew Bailey.

Most economists believe the Monetary Policy Committee will keep interest rates unchanged at 4% next Thursday, with Bailey swinging the vote. “The next BOE decision will hinge on the governor,” TD Securities European economist Julie Ioffe said.