News > Bank of England keeps rates unchanged even as policymakers back cut
Bank of England keeps rates unchanged even as policymakers back cut

NDTV Profit | 19/12/2024 08:07 PM | Click to read full article
The MPC voted to keep its benchmark interest rate unchanged at 4.75%. Deputy Governor Dave Ramsden, and Alan Taylor, the BOE’s newest rate-setter, switched sides to join Swati Dhingra in advocating a cut. “We think a gradual approach to future interest-rate cuts remains right,” Governor Andrew Bailey said. “But with heightened uncertainty in the economy we can’t commit to when or by how much we will cut rates in the coming year.”