Bank Rate Maintained at 4.75%

Pictured: Andrew Bailey, Governor at the BoE

Context 

The Bank of England’s Monetary Policy Committee decision marks a trend of increasing inflation where rates were 1.7% in September and 2.6% in November. 

Content 

At the Bank of England’s Monetary Policy Committee meeting on 18 December 2024 the Committee voted 6-3 to maintain the Bank rate at 4.75%. The next rate change is due on 6 February 2025.