MNI BoE Review - June 2025: One More Dove
Jun-23 12:25By: Tim Davis
UK+ 2
- The Bank of England left Bank Rate on hold at 4.25% at its June meeting as unanimously had been expected.
- There was a minor surprise in the vote split with Ramsden joining Dhingra and Taylor in favouring a 25bp cut. Ahead of the meeting despite a 7-2 vote having been expected by the vast majority of market participants, it was a widely perceived risk that one of either Ramsden or Breeden may dissent.
- Perhaps the most surprising part of the Minutes on reflection is that the "on hold" voters' views were all clumped together as one, rather than being split into groups.
