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Bank of England Holds Rates Amid Inflation Uncertainty

2/5/2026

43 9 Full Breakdown

Summary

Story summary

Bank of England's Monetary Policy Committee is expected to hold Bank Rate at 3.75%.
The MPC will await more evidence on price pressures before considering cuts, possibly in April.
December inflation rose to 3.4%, driven by tobacco duties and airfares.
Economists are divided, with some urging caution and others arguing for growth-friendly cuts.
The Bank will publish its first monetary policy report of the year outlining forecasts.

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Story summary

Bank of England's Monetary Policy Committee is expected to hold Bank Rate at 3.75%.
The MPC will await more evidence on price pressures before considering cuts, possibly in April.
December inflation rose to 3.4%, driven by tobacco duties and airfares.
Economists are divided, with some urging caution and others arguing for growth-friendly cuts.
The Bank will publish its first monetary policy report of the year outlining forecasts.