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BoE holds interest rates at 16-year high; two members vote to cut 

Published 09/05/2024, 12:06
Updated 09/05/2024, 12:10
© Reuters BoE holds interest rates at 16-year high; two members vote to cut 
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Proactive Investors - The Bank of England has voted to keep interest rates at 16-year highs, keeping in line with market expectations.

BoE's Monetary Policy Committee voted seven to nine in favour of keeping borrowing rates at 5.25%, marking the sixth consecutive meeting in which it has been maintained.

Two members voted in favour of lowering rates, meaning one person joined the committee's most dovish member Swati Dhingra in a postivie sign for the market.

In response to the decision, the FTSE 100 is now up 30 points for the day at around 8,384.

Read more on Proactive Investors UK

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