The Bank of England’s Monetary Policy Committee (MPC) voted by a margin of five to four in favor of a 0.25 percentage point cut, the English central bank announced today in a statement.
The committee is closely monitoring the annual inflation rate, which stood at 3.6% in June, exceeding the bank’s target of 2%, while awaiting the July figure next week.
The next monetary policy meeting of the Bank of England is scheduled for September 17-18.
[News updated at 12:38 PM]
